92503 Property Tax Rate

Property owners in ZIP code 92503 (Riverside, California) pay a median of $3,577/year in property taxes on homes valued at $556,300. This translates to an effective tax rate of 0.64%, which is 7% below the California state average of 0.69%.

The monthly property tax burden for a median-valued home in 92503 is approximately $298, which factors into escrow payments on mortgages. This ZIP code is located within Riverside County. This is $1,323 less than the California average of $4,900/year.

Compared to similar ZIP codes in California, 92503 has lower property taxes. ZIP codes with similar effective rates include 90605 (0.64%) and 96035 (0.64%).

In Riverside, property taxes represent approximately 3.9% of the median household income of $91,523, providing context for the relative tax burden on homeowners in this area.

Proposition 13 resets your Riverside County property tax base to the purchase price at closing, then limits annual increases to 2%; your tax burden is locked in at that purchase-price valuation. Riverside County offers a $7,000 Homeowners' Exemption — file with the Riverside County Assessor within 30 days of purchase to reduce your assessed value. Register with the Riverside County Assessor's office to claim your exemption and confirm your base year value in writing.