RIVERSIDE – (INT) - Assessed property values in Riverside County will rise for the first time in five years, Assessor-County Clerk-Recorder Larry Ward said Tuesday.

Median home prices in Riverside County improved by more than 25 percent in 2012, propelling a 3.95 percent increase in Riverside County’s tax roll for the 2013-14 tax year. Overall, assessed value in Riverside County will increase from $204.89 billion for the 2012-13 tax year to $212.98 billion for the 2013-14 tax year, Ward said.

The increase means local governments receive more property-tax revenue to help pay for community services. Rising home values benefit homeowners too, as home equity grows.

Though the median sale price has increased by 25 percent in Riverside County, most property owners will not see an equivalent increase in their property taxes.

Beginning July 15, Riverside County property owners will be able to view their 2013-14 roll value online at www.riversideacr.com.

Story Date: July 8, 2013