Last week, Peter Aldana, Riverside County’s assessor-county clerk-recorder, announced that the county’s total real estate assessment valuation has exceeded $400 billion for the first time. The 2023 assessment of $404 billion is $35 billion more than the 2022 total.

Real estate assessments’ growth on the Hill was greater but below the countywide increase of 9.6%. The assessed value for all Hill properties contributed to the overall county increase of $35 billion.

The greatest percentage increase was in Mountain Center real estate. This year, the total real estate assessment in Mountain Center was $21.2 million, an increase of 10.4%. This compares to a 1% increase in 2021-22.

Residential property, valued at $16.3 million, is the largest component of the Mountain Center total. This represents 48 parcels. Three valuations were between $1 million and $3 million. Another three properties were assessed between $750,000 and $1 million. Forty-four properties were valued at $300,000 and lower. Twelve vacant parcels, assessed at $1.6 million, were the second largest.

Idyllwild and Pine Cove have 5,341 properties with a total assessed value of $1.4 billion, which was an increase of 8.5%. In the previous year, the Idyllwild and Pine Cove total assessed value grew 10.4%. Over the past four years, the total value of real estate assessments in Idyllwild and Pine Cove has grown 7.5%.

Residential property has the greatest assessed value of $1.2 billion in these communities. Commercial properties, of which there are 153, have been assessed at $108.5 million.

In the Idyllwild and Pine Cove neighborhoods, one parcel assessed at between $10 million and $50 million Another assessed at between $5 million and $10 million and 75 between $1 million and $5 million. At the lower end of the assessed valuations, 3,458 properties were at $300,000 and lower.

Garner Valley’s total real estate assessments were $219.1 million. This area had the lowest percentage increase of assessed valuation of Hill communities. This year the total valuation grew 4.9% and an average increase of 4.6% in the past four years.

The 372 residential properties, valued at $164.7 million, were the largest component. However, six commercial properties had a valuation of $33.8 million. And 84 vacant parcels were valued at $9.8 million.

The total assessment for three properties was between $5 million and $50 million. The 27 properties had valuations between $1 million and $3 million. More than 200 parcels had assessment valuation between $300,000 and $1 million and another 259 properties were valued at $300,000 or less.

Aldana’s news release provided information for property owners who may have questions. A review of the 2023 assessment roll value is available on the Riverside County Assessor’s public access online services website at ca-riverside-acr.publicaccessnow.com/ or by calling (951) 955-6200.

For concerns about a valuation, owners may file a free decline-in-value application online at ca-riverside-acr.publicaccessnow.com/E-Forms/DeclineinValueApplication.aspx. The decline-in-value objections are due by Nov. 1.

Property owners also may request a formal hearing before the Assessment Appeals Board. The deadline to file is Nov. 30. The application is available on the clerk of the board’s website at aao.countyofriverside.us/.

For more information, visit www.rivcoacr.org