The Riverside County Treasurer-Tax Collector is responsible for the billing and collection of property taxes, and, for the receiving, processing, investing and most importantly, safeguarding of public funds, as mandated by the laws of the state of California. The combined office is led by Matthew Jennings, a countywide, publicly elected official serving the fourth largest county in California by landmass and by population. Established May 9, 1893, Riverside County encompasses 7,303 square miles, 28 cities and a population of nearly 2.3 million.
The Riverside County Treasurer is a state mandated function that is governed by the California Government Code. Ultimately responsible for over $17.5 billion in annual receipts and disbursements each year, the Treasurer serves as the chief investment officer with fiduciary responsibility of all funds in the county treasury. The treasury receives, invests and safeguards all public monies into the $8.4 billion Treasurer’s Pooled Investment Fund (TPIF), which maintains the highest achievable ratings by two nationally recognized rating firms on behalf of the county, school and community college districts, special districts and discretionary depositors which draw upon these funds to pay for their budgeted expenses.
TPIF investments are made in accordance with state law and the Treasurer’s Statement of Investment Policy. It is actively managed in a manner to safeguard investment principal, maintain sufficient liquidity within the portfolio to meet cash flow requirements, and, to achieve a reasonable rate of return on the portfolio consistent with these objectives. In addition, the Treasurer also serves as financial advisor to the County for the investment of certain bond proceeds, as well as for school and community college district proceeds and debt issuance in his capacity as their ex-officio treasurer.
The Riverside County Tax Collector is a state mandated function that is governed by the California Revenue & Taxation Code, Government Code, and, the Code of Civil Procedures. The Tax Collector is responsible for the billing and collection of secured, unsecured, supplemental, transient occupancy tax as well as various other special assessments for the county, school and community colleges, and, special districts.
Collectively, over one million secured, unsecured, supplemental and delinquent property tax bills representing nearly $4.4 billion are mailed and processed through this office each year. The Tax Collector staff provides information and assistance on the telephone and through its three office locations to individual taxpayers, businesses and mortgage professionals. The Tax Enforcement division oversees secured and unsecured tax delinquent and defaulted payments, with the Tax Sale Operations division ultimately responsible for secured tax sales at public auction in accordance with state law, and, approval of the County Board of Supervisors.