Heat oven to 350°F. Lightly butter a 2-quart baking dish.
Beat cream cheese and sour cream in a bowl until smooth and fluffy.
Stir in lime juice, taco seasoning, cumin, garlic powder, chili powder, salt, pepper, and hot sauce.
Fold in tomatoes, black beans, corn, bell pepper, jalapeño, green onions, cilantro, and 1½ cups cheddar.
Spread into the dish and top with the remaining ½ cup cheddar.
Bake until hot and bubbly, 18–22 minutes. Broil 1–2 minutes for a golden top, if desired.
Rest 5 minutes. Garnish with extra cilantro and green onions. Serve warm with tortilla chips or veggies.