Richmond Property Tax Rate 2026
The residential rate, what it is made of and what it costs on a home
Richmond's 2026 residential property tax rate is 0.3538% of assessed value, up from 0.3194% in 2025 (+10.8%). A home assessed at $500,000 pays about $1,769 a year, and one at $1,000,000 about $3,538. At that rate, the benchmark home in Richmond, at $1,025,100 in August 2026, would pay about $3,627 a year. It is the 8th lowest of the 21 British Columbia cities on this site, where the median is 0.3852%.
What the rate is made of
| Part | Rate | On a $500,000 home |
|---|---|---|
| Municipal | 0.1950% | $975 |
| School (provincial) | 0.1138% | $569 |
| Metro Vancouver | 0.0054% | $27 |
| TransLink | 0.0359% | $179 |
| BC Assessment and MFA | 0.0038% | $19 |
| Total, 2026 | 0.3538% | $1,769 |
| Total, 2025 | 0.3194% | $1,597 |
Property tax at different home values
| Assessed value | Tax a year | A month |
|---|---|---|
| $400,000 | $1,415 | $118 |
| $600,000 | $2,123 | $177 |
| $800,000 | $2,831 | $236 |
| $1,000,000 | $3,538 | $295 |
| $1,500,000 | $5,308 | $442 |
| $2,000,000 | $7,077 | $590 |
On a typical home in Richmond
| Home | Price | Tax at the rate | A month |
|---|---|---|---|
| Benchmark home | $1,025,100 benchmark | $3,627 | $302 |
| Detached | $1,925,400 benchmark | $6,813 | $568 |
| Condo | $633,300 benchmark | $2,241 | $187 |
Prices from our Richmond report for August 2026, taxed at the rate as if the price were the assessed value. B.C. assesses homes every year at their market value of the July before. What buying one takes in all: cost to buy in Richmond.
British Columbia cities compared
| City | 2026 Rate | 2025 Rate | Change | Tax on $500,000 |
|---|---|---|---|---|
| Whistler | 0.2775% | 0.2603% | +6.6% | $1,388 |
| West Vancouver | 0.3239% | 0.2938% | +10.2% | $1,619 |
| District of North Vancouver | 0.3282% | 0.3033% | +8.2% | $1,641 |
| Burnaby | 0.3284% | 0.2977% | +10.3% | $1,642 |
| Vancouver | 0.3364% | 0.3118% | +7.9% | $1,682 |
| Surrey | 0.3427% | 0.3108% | +10.3% | $1,714 |
| City of North Vancouver | 0.3477% | 0.3218% | +8% | $1,738 |
| Richmond | 0.3538% | 0.3194% | +10.8% | $1,769 |
| Township of Langley | 0.3617% | 0.3349% | +8% | $1,808 |
| Port Coquitlam | 0.3775% | 0.3497% | +8% | $1,888 |
| Coquitlam | 0.3852% | 0.3515% | +9.6% | $1,926 |
| Delta | 0.3958% | 0.3660% | +8.1% | $1,979 |
| Port Moody | 0.4291% | 0.3939% | +8.9% | $2,146 |
| Abbotsford | 0.4521% | 0.4124% | +9.6% | $2,260 |
| Maple Ridge | 0.4536% | 0.4189% | +8.3% | $2,268 |
| Pitt Meadows | 0.4622% | 0.4222% | +9.5% | $2,311 |
| Kelowna | 0.4741% | 0.4449% | +6.6% | $2,370 |
| New Westminster | 0.4793% | 0.4364% | +9.8% | $2,397 |
| Victoria | 0.5656% | 0.5203% | +8.7% | $2,828 |
| Kamloops | 0.6854% | 0.6476% | +5.8% | $3,427 |
| Nanaimo | 0.7312% | 0.6909% | +5.8% | $3,656 |
All of them, with how assessment works in British Columbia, on the British Columbia property tax rates page.
Richmond Property Tax: Quick Answers
What is the property tax rate in Richmond?
0.3538% of assessed value for a home in 2026. It is made up of municipal (0.1950%), school (0.1138%), Metro Vancouver (0.0054%), TransLink (0.0359%) and BC Assessment and MFA (0.0038%).
How much is property tax on a house in Richmond?
About $1,769 a year on a home assessed at $500,000, $2,654 at $750,000 and $3,538 at $1,000,000. On the benchmark home in Richmond ($1,025,100), it is about $3,627.
How is property tax calculated in Richmond?
The city multiplies the home's assessed value by the rate: $500,000 × 0.3538% = $1,769. B.C. assesses homes every year at their market value of the July before.
Did property tax go up in Richmond in 2026?
The rate went up 10.8%, from 0.3194% in 2025 to 0.3538%. A bill also changes with the home's assessment.
Work out your own numbers
- Property tax estimator: the tax on your home's assessed value
- Annual cost of ownership calculator: property tax with insurance, utilities and upkeep
- Understanding property taxes before you buy
- Income needed to buy a home in each city, with property tax in the monthly cost
Other provinces
Source: Richmond, 2026 tax rates; 2025 tax rates. Rates are for a residential home and include the school or education tax; flat fees on the same bill are not included.
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