RIVERSIDE – (INT) – Property tax bills for the 2018-19 fiscal year will hit the mail in a few weeks. But, county leaders are trying to soften the impact.

The latest Riverside County tax roll shows an increase of 6 percent which will generate more than $2.8 billion for local government services.

Despite the increases, most property owners will not see an equal rise in property taxes. The assessor enrolls most properties at their Prop. 13 value and taxes typically can increase by no more than 2 percent per year.

The average property owner will not see a commensurate increase in property taxes, according to Riverside County’s Assessor-County Clerk-Recorder Peter Aldana.

In some related notes, low inventories pushed home prices to record highs as fiscal 2017 ended. CoreLogic, a real estate information services firm, reported a 7.4 percent rise in median home prices. Rising employment drove vacancy rates down, and rents up, in the commercial office market. New industrial construction grew as the logistics sector demanded more warehouse space.

Story Date: July 22, 2018