ANNUAL PROPERTY TAX RATES (2026) BYLAW NO. 10748

Tax Rates: The City of Richmond is required to establish annual property tax rates for municipal taxes. To establish the 2026 municipal tax rates, the prior year's tax rates are adjusted based on the 2026 assessment values to ensure the City collects the same amount of taxes from each class in the current year as it did in the previous year. The adjusted rates are then increased by 3.04% based on the Council approved 2026 Operating Budget. In general, when assessment values increase, the tax rate decreases and conversely, when assessment values decrease, the tax rate increases.

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