Richmond property tax

Residential (Class 1) rates per $1,000 of assessed value from Province of BC Local Government Statistics, Schedule 702; they match the City of Richmond's published 2026 Tax Rates table exactly. City of Richmond published residential rates: General Municipal 1.11314, Policing 0.51176, Fire Rescue 0.32495 (TOTAL MUNICIPAL 1.94985); School 1.13780; Metro Vancouver (GVRD) 0.05383; BC Assessment 0.03810; Municipal Finance Authority 0.00020; Translink 0.35860; TOTAL TAX RATE 3.53838. Hospital is 0 in Schedule 702 for Richmond. 'Other' combines TransLink, BC Assessment and Municipal Finance Authority. The City's table also lists an Additional School Tax for Qualifying Residential Properties: Tier 1 $2 / $1,000 of assessment value between $3M to $4M; Tier 2 $4 / $1,000 of assessment value over $4M (not included in the total). Municipal and regional district rates are set by Annual Property Tax Rates (2026) Bylaw No. 10748, adopted April 27, 2026 (Schedule A residential: 1.11314 general purposes, 0.51176 policing services, 0.32495 fire & rescue, total 1.94985; Schedule B regional district residential 0.05383). The staff report says the adjusted rates were increased by 3.04% based on the Council-approved 2026 Operating Budget, and that Richmond residential market values decreased by -6.93% in the 2026 assessments.

Rates as published for the residential class. Bills can also include fixed charges, local improvement levies and utility fees that are not based on assessed value.

Richmond's total residential rate of 0.3538% is below the 0.4794% average of the 28 British Columbia municipalities we cover. A lower rate does not always mean a lower bill: tax = assessed value × rate, so cities with high home values often have lower rates.

Rates are the residential rates in each city's latest confirmed year. All British Columbia municipalities · National rankings

From Richmond's official property tax pages (sources 17, 18, 19, 20, 21, 12). Check your bill for the exact amounts and dates.

These programs are run by the city or the province. Eligibility is decided by the organization that runs each one; follow the links for the official rules.

• Home owner grant

  Provincial grant that reduces property tax on a principal residence. The City's page cites a basic grant of up to $570 and an additional grant (65 years and older) of up to $845, with minimum property tax of $350 (basic) and $100 (additional). The Province states the 2026 grant threshold is $2,075,000; the grant is reduced by $5 for each $1,000 of assessed value above it. It must be claimed with the Province each year by the tax due date (July 2, 2026); unclaimed grants are treated as unpaid current taxes and subject to penalty. Run by Province of BC (municipalities no longer accept applications).

• Property tax deferment (families with children; age 55 and older, surviving spouses and people with disabilities)

  Provincial low-interest loan program to defer annual property taxes; applications or renewals must be completed with the Province by the due date (July 2, 2026) to avoid penalty. The City states that taxes deferred for 2026 and later years carry compound interest at prime plus two per cent (prime minus two per cent simple interest for 2025 and earlier years). PAWS participants who want to defer must ask the City to cancel their monthly withdrawals. Run by Province of BC.

• Home owner grant

  The B.C. home owner grant reduces the property taxes owners pay on their principal residence. For 2026 the full grant is available on properties assessed at $2,075,000 or less, with a higher additional grant for seniors, veterans and people with disabilities.

• Low income grant supplement for seniors

  A B.C. supplement for low-income seniors whose home owner grant is reduced or eliminated because their home is assessed above the $2,075,000 grant threshold. Most recipients get a cheque for $845 ($1,045 in a northern or rural area) for 2026.

• Property tax deferment program

  B.C.'s property tax deferment program is a provincial loan that pays an eligible owner's current-year property taxes, secured by a lien on the home. Taxes deferred for 2026 and later carry compound interest at prime plus 2%, 6.45% throughout 2026.

• Additional school tax (provincial, on high-value residential property) in force 2026

  Listed on the City's 2026 Tax Rates table as 'Additional School Tax for Qualifying Residential Properties': Tier 1 $2 / $1,000 of assessment value between $3M to $4M; Tier 2 $4 / $1,000 of assessment value over $4M.

• Speculation and vacancy tax (provincial) in force 2026

  Provincial tax on residential property in designated taxable areas; the Province lists the City of Richmond (Metro Vancouver Regional District) as a taxable area. Rates for the 2026 calendar year: 3% for foreign owners and untaxed worldwide earners; 1% for Canadian citizens or permanent residents of Canada who are not untaxed worldwide earners (2019 to 2025: 2% and 0.5%). Effective January 1, 2027: 4% and 1%. Richmond has no municipal empty homes tax on the City pages checked.

• B.C. speculation and vacancy tax

  The speculation and vacancy tax is an annual provincial tax on residential property in designated areas of B.C., based on how each owner used the property during the year and on the owner's residency and income. Every owner on title in a taxable area must declare by March 31, even when an exemption applies.