City of Palm Desert Assessed Value and Estimated Actual Value of Taxable Property Last Ten Fiscal Years
| Fiscal Year Ended June 30 | Residential Property | Commercial Industrial Property | Institutional Property | Vacant Land | Less: Tax Exempt | Total Taxable Assessed Value | Total Direct Tax Rate | Estimated Actual Taxable Value (1) |
|---|---|---|---|---|---|---|---|---|
| 2025 | 15,739,123,263 | 3,474,602,770 | 82,728,637 | 310,232,390 | * | - | 20,682,159,347 | 1.00000 |
| 2024 | 14,806,817,526 | 3,268,784,947 | 77,828,213 | 291,855,799 | * | - | 19,457,053,253 | 1.00000 |
| 2023 | 13,770,177,817 | 3,039,934,131 | 72,379,384 | 271,422,690 | * | - | 18,094,846,015 | 1.00000 |
| 2022 | 12,816,062,846 | 2,919,685,840 | 67,899,671 | 254,623,765 | * | - | 16,974,917,677 | 1.00000 |
| 2021 | 12,277,100,484 | 2,872,316,290 | 65,652,944 | 279,025,011 | * | - | 16,413,235,941 | 1.00000 |
| 2020 | 11,781,804,552 | 2,771,257,791 | 63,343,035 | 300,879,417 | * | (45,437) | 15,835,758,806 | 1.00000 |
| 2019 | 11,231,546,199 | 2,675,659,205 | 62,224,633 | 373,347,796 | (326,679,322) | 15,556,158,170 | 1.00000 | 15,045,226,485 |
| 2018 | 10,757,283,204 | 2,554,854,761 | 59,762,684 | 388,457,449 | (313,754,093) | 14,940,671,116 | 1.00000 | 14,445,331,683 |
| 2017 | 10,555,732,091 | 2,434,816,656 | 58,318,962 | 379,073,252 | (306,174,550) | 14,579,740,457 | 1.00000 | 14,095,158,994 |
| 2016 | 10,174,360,142 | 2,358,860,033 | 56,840,001 | 412,090,006 | (312,620,004) | 14,210,000,198 | 1.00000 | 13,743,682,041 |
(1) Estimated Actual Taxable Value = Net Taxable Value
* Per HDL there was an artifact change in the Riverside County Assessors data that occurred primarily between 2018 and 2019, new vs old system differences, the few properties which are listed as having assessed value and being non-taxable are either new to the roll or are newly non-taxable for 2019.
Notes: Property Taxes in Riverside County are subject to the State of California's Proposition 13, Jarvis-Gann Initiative which allows reappraisals of real property only when there is a change in ownership or new construction takes place. Further, the proposition limits property assessment increase to no more than two(2%) percent annually. Property is assessed at one hundred percent (100%) of its fair market value at the time of new construction or change in ownership. The tax rate is one (1%) percent of the assessed value.
Source: Riverside County Assessor thru HDL Coren & Cone