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Thursday, November 21, 2024

Analysis: Riverside County effective property tax rates were lower than the national average in Q1

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Property owners in Riverside County paid 0.5% of the value of their homes in property taxes in the first quarter of 2024, 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 first quarter of 2024 was $582,000, based on data from the 3,677 properties sold during that time. In 2024, the median tax bill for the county was $2,671, which is 0.5% 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 paid the highest tax rate of 0.7%.

The above article calculates the effective property tax rate for 2024 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 first quarter of 2024.

CityQ1 2024 SalesQ1 2024 Median PriceMedian tax 2024Effective tax rate
Beaumont61$525,000$3,5470.7%
Rancho Mirage113$950,000$5,2900.6%
Coachella18$429,500$2,7300.6%
Indio146$472,500$2,7150.6%
Palm Desert346$560,000$3,1700.6%
Indian Wells71$1,300,000$7,4470.6%
Calimesa8$416,500$2,4100.6%
Menifee 206$490,000$2,8180.6%
Mecca 2$240,000$1,4210.6%
Cherry Valley 8$364,500$2,2590.6%
Lake Elsinore97$560,000$2,6930.5%
Wildomar45$610,000$2,9210.5%
La Quinta208$765,000$3,4780.5%
Murrieta210$640,000$3,2130.5%
Corona294$762,500$3,5050.5%
Perris73$525,000$2,6830.5%
Canyon Lake33$640,000$3,0780.5%
Cathedral City85$505,000$2,5750.5%
Temecula194$731,500$3,3610.5%
Palm Springs247$640,000$3,1060.5%
Desert Hot Springs94$373,500$2,0430.5%
Nuevo 13$500,000$2,2890.5%
Thousand Palms6$375,000$2,0550.5%
Idyllwild-Pine Cove 23$456,500$2,1200.5%
Anza 2$290,000$1,5370.5%
Aguanga 4$389,000$2,1190.5%
Lakeland Village5$273,000$1,3760.5%
Moreno Valley219$525,000$2,0670.4%
San Jacinto72$450,000$1,7950.4%
Hemet222$415,000$1,7750.4%
Banning25$400,000$1,6780.4%
Blythe19$260,000$9260.4%
Riverside334$625,000$2,2760.4%
Rubidoux 18$507,500$1,8130.4%
Bermuda Dunes 26$710,000$2,6860.4%
Norco22$1,000,000$3,1040.3%
Mira Loma 12$740,000$2,5800.3%
Mountain Center 4$869,364$2,6890.3%

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