Preheat the oven to 350 degrees. Spray an 8 x 8 baking dish with cooking spray and set aside.
In a large bowl mix together the corn, cream cheese, all but 1/4 cup of cheddar cheese, Rotel, green pepper, red onion, milk, Ranch seasoning, salt, and pepper.
Pour into the prepared pan. Sprinkle the top with remaining cheddar cheese and paprika.
Bake for 20 minutes.
Remove from oven and serve hot with tortilla chips.