Understanding Property Taxes in Riverside County
Posted by Jim Cronin
Property taxes are an important part of owning a home. Buyers should also learn about property taxes when purchasing property. Knowing how the county calculates taxes and where your money goes can help you plan better and avoid surprises. This guide will help you understand property taxes in Riverside County and how to manage them.
The Basics of Property Taxes in Riverside County
How Property Taxes Work in Riverside County
Riverside County sets property taxes at 1.25% of the property's assessed value. The assessed value starts at the purchase price, and then the assessor uses inflation to guide future assessments. However, California has a 2% cap on annual increases to assessed value.
If you buy a home for $500,000, your property tax would be…
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