ANNUAL PROPERTY TAX RATES (2026) BYLAW NO. 10748

Under the Community Charter, all municipalities in BC are required to calculate tax rates based on the Revised Roll totals provided by BCA. The Revised Roll assessments reflect the market condition as of July 1st of the preceding year. The assessment figures are comprised of market values for existing properties and values for new properties (new growth) for 2026. BC Assessment has reported that residential market values across the Lower Mainland have softened and this trend is reflected in the 2026 property assessments. Homeowners throughout the Lower Mainland can expect some decreases in assessed value with most changes falling up to -10.00%. In Richmond, residential market values decreased by -6.93% while the average residential assessment change in 2026 is -8.09%.

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