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Saturday, October 5, 2024

Effective property tax rate in Riverside County were lower than the national average in Q3 2023

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Property owners in Riverside County paid 0.4% of the value of their homes in property taxes in the third quarter of 2023, which is less than 0.4 times the national average, according to the real estate analysis posted by Coachella Today.

The median sales price of a Riverside County home in the third quarter of 2023 was $580,000, based on data from the 2,344 properties sold during that time. In 2023, the median tax bill for the county was $2,581, which is 0.4% of the median value of the homes that were taxed.

This is 0.4 times lower than the average effective property tax rate of 1.11% in the U.S. in 2023.

The analysis of Riverside County real estate data showed homeowners in Beaumont and Cherry Valley paid the highest rates.

The above article calculates the effective property tax rate for 2023 using estimated inflation values and 2021 tax data provided by the county. In some cases, the actual effective property tax rate may vary slightly.

The following table compares Beaumont with some other cities belonging to Riverside County by their median effective property tax rate, calculated using sales and property tax data from the third quarter of 2023.

CityQ3 2023 SalesQ3 2023 Median PriceMedian tax 2023Effective tax rate
Beaumont46$511,500$3,4270.7%
Cherry Valley 5$325,000$2,1820.7%
Rancho Mirage66$837,000$5,1110.6%
Desert Hot Springs48$337,250$1,9740.6%
Indian Wells23$1,180,000$7,1950.6%
Menifee 140$482,500$2,7230.6%
Wildomar19$600,000$2,8220.5%
Coachella8$547,500$2,6380.5%
Indio105$505,000$2,6230.5%
La Quinta98$725,000$3,3600.5%
Murrieta165$675,000$3,1040.5%
Banning34$355,500$1,6210.5%
Perris59$520,000$2,5920.5%
Palm Desert166$557,000$3,0620.5%
Canyon Lake23$660,000$2,9740.5%
Cathedral City53$535,000$2,4880.5%
Temecula155$720,000$3,2470.5%
Bermuda Dunes 15$540,000$2,5950.5%
Mecca 3$305,000$1,3730.5%
Idyllwild-Pine Cove 14$428,750$2,0490.5%
Lake Elsinore46$580,000$2,6020.4%
Moreno Valley128$540,000$1,9970.4%
San Jacinto64$437,500$1,7340.4%
Hemet151$416,000$1,7150.4%
Corona187$770,000$3,3860.4%
Riverside249$615,000$2,1990.4%
Palm Springs130$767,500$3,0010.4%
Calimesa8$544,000$2,3280.4%
Homeland 2$520,000$2,1180.4%
Mira Loma 11$580,000$2,4920.4%
Nuevo 8$545,000$2,2110.4%
Thousand Palms3$450,000$1,9860.4%
Anza 6$350,000$1,4850.4%
Norco18$987,500$2,9980.3%
Blythe12$282,500$8940.3%
Rubidoux 13$570,000$1,7510.3%
Cabazon 2$320,500$1,0540.3%
Mountain Center 5$850,000$2,5980.3%
Aguanga 2$595,000$2,0480.3%
Lakeland Village6$392,500$1,3300.3%

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