Property Tax Guide for Canada

Richmond

British Columbia

All dollar amounts on this page are in Canadian dollars.

City introduction

Richmond is an island city in Metro Vancouver, located at the mouth of the Fraser River where it meets the Strait of Georgia. The city is made up of Sea Island, most of Lulu Island, and 15 smaller islands. Vancouver International Airport is located on Sea Island, within Richmond's boundaries.

Richmond is one of Canada's most diverse cities — according to the City's own profile, immigrants make up more than 60 percent of its population. The community was incorporated as a municipality on November 10, 1879, and achieved city status on December 3, 1990. In 2010, Richmond hosted the long-track speed skating events of the Winter Olympic Games at the Richmond Olympic Oval. The City's stated vision is to be "the most appealing, livable and well-managed community in Canada."

Source: City of Richmond — City of Richmond, City Profile.

Combined chart

Richmond property tax increase, Canada inflation, and Canadian dollar Real CEER, 2015–2026

Bars: City of Richmond municipal property tax annual increase.

Lines: Canada inflation (Canada CPI annual average, Statistics Canada) and Canadian dollar Real CEER (Bank of Canada). CEER is on the separate right axis and is not a percentage.

Richmond property tax increase, Canada inflation, and Canadian dollar Real CEER, 2015–20260%2%4%6%8%10%104106108110112114No data2015No data2016No data2017No data2018No data2019No data2020No data2021No data20225.89%20235.62%20245.86%20253.04%2026Increase (%)Canadian dollar Real CEER (1999=100)Year
  • Bars — Richmond municipal property tax increase
  • Line — Canada inflation (Statistics Canada CPI annual average)
  • Line — Canadian dollar Real CEER — Bank of Canada, annual average of monthly values, total index (1999=100)

Data behind the chart

The data table below carries one row per year, in year order, with the tax increase, the inflation value and the CEER value for that year, or “No data” where a series has no verified figure.

YearCity of Richmond municipal property tax increaseCanada inflation — Statistics Canada CPI annual averageCanadian dollar Real CEER — Bank of Canada, annual average of monthly values, total index (1999=100)
2015No data1.1%110.0
2016No data1.4%108.4
2017No data1.6%110.0
2018No data2.3%109.3
2019No data1.9%108.6
2020No data0.7%108.0
YearCity of Richmond municipal property tax increaseCanada inflation — Statistics Canada CPI annual averageCanadian dollar Real CEER — Bank of Canada, annual average of monthly values, total index (1999=100)
2021No data3.4%113.0
2022No data6.8%113.0
20235.89%3.9%108.4
20245.62%2.4%107.6
20255.86%2.1%104.9
20263.04%No dataNo data

Sources for this chart:

Housing property-tax historical trend

The trend uses one measure only: the municipal property tax increase approved by Council. Each row is the figure for that year on that one measure. A year with no verified figure on that measure is shown as No data.

YearFigure
2015No data
2016No data
2017No data
2018No data
2019No data
2020No data
YearFigure
2021No data
2022No data
20235.89%
20245.62%
20255.86%
20263.04%

For 2020–2022 the City approved its budgets through component motions; no single official total was published, so those years are No data rather than a computed sum.

Separate note — tax rates, not the trend

This note is separate from the trend above and is not part of it. A residential tax rate per $1,000 of assessed value can move even when the levy increase is small, because the assessment base changes. Rate figures are therefore not used as the trend and are not mixed into the increase chart.

2026 residential rate (City of Richmond municipal rate, as presented on the City's finance page): 1.94985 per $1,000 of assessed value.

ItemRate per $1,000Scope
Residential (2026)1.94985City (municipal) rate

Source: City of Richmond, About Finance & Taxes: http://www.richmond.ca/city-hall/finance/about.htm

Detailed official rate tables for 2021–2026 are published at https://www.richmond.ca/city-hall/finance/rates/taxrates.htm (the linked tables give the year-by-year detail).

Method

This trend uses one metric only, every year: the municipal property tax increase approved by Council.

Where a city publishes an increase as components, the components are recorded in the scope notes; a total is used only where the city itself publishes it.

Canada inflation is Statistics Canada, Table 18-10-0005-01, CPI annual average. Canadian dollar Real CEER is Bank of Canada, Valet series CEER_BROADM, total index (1999=100); each value is the annual average of the 12 monthly total Real CEER values (a computed annual average, not a figure the Bank publishes directly as an annual value).

How to read this page

Bars are the Richmond municipal property tax increase. Lines are Canada inflation and Canadian dollar Real CEER.

The left axis is a percentage axis shared by the bars and the inflation line. The right axis is a separate index axis for Canadian dollar Real CEER only. CEER is an index and is not a percentage.

A year shown as “No data” has no bar for property tax and no line point for that series, and a missing year breaks a line.

Tax rates per $1,000 are separate from the trend and are not charted.

Sources

Back to British Columbia | Back to Home

This page is an independent guide. It is not a government site and it is not an official site. It is general information only and is not tax advice. Check the official City of Richmond source before relying on a figure.