Property taxes in Richmond, BC are due on the first business day of July each year, which is Thursday, July 2, 2026, for the current tax year.1City of Richmond. Property Tax Due Dates Your bill equals BC Assessment’s valuation of your property multiplied by the tax rate Richmond City Council sets each year during its budget. Miss the deadline by one day and a 5% penalty is applied to the outstanding balance; if the balance is still unpaid in early September, a second 5% penalty is added on top.
How Your Bill Is Calculated
Two numbers drive the bill: an assessed value and a tax rate.
BC Assessment, an independent provincial authority governed by the Assessment Act, estimates what your property would likely sell for on the open market as of July 1 of the previous year.2BC Assessment. Understanding the Assessment Process A second date matters if your property changed between summer and fall: BC Assessment reviews the physical condition and permitted use of your property as of October 31, so renovations completed or damage suffered after July 1 are captured at the later state.3BC Assessment. Valuation Date Versus Physical Condition Date
Richmond City Council then applies a tax rate expressed per $1,000 of assessed value. To get your total, divide your assessed value by 1,000 and multiply by the applicable rate. Updated rates are published on the city’s website once the annual budget is approved.4City of Richmond. Tax Rates BC Assessment classifies every property into one of nine categories and Richmond charges a different rate for each; business and light-industry rates run several times higher than residential.5Province of British Columbia. Local Government Property Assessment and Classes If you own a single-family home, condo, apartment, or manufactured home, you fall under Class 1 (Residential) and pay the residential rate.
The July Deadline and What Late Payment Costs
The due date is always the first business day of July. For 2026, that’s Thursday, July 2.1City of Richmond. Property Tax Due Dates
Pay even one day late and 5% is added to whatever is outstanding. If any balance remains in early September, a further 5% is added. The BC Community Charter gives municipalities the authority to impose these penalties, and city staff have no discretion to waive them, whatever your circumstances.6BC Laws. Community Charter If you already know July will be tight, use the monthly withdrawal plan or the provincial deferment program below rather than accept a 10% hit on your total bill.
How to Pay
Before you pay, pull out your annual property tax notice and find your nine-digit Folio Number and Access Code near the top.7City of Richmond. Where Do I Find My Folio Number and Access Code You’ll need the Folio Number no matter which method you use. If you’ve applied for the Home Owner Grant, subtract that amount from what you actually owe.
Richmond accepts payments through several channels:8City of Richmond. Paying Your Property Taxes
- Online banking. Add the City of Richmond as a payee and use your Folio Number as the account. Allow two to three business days for the payment to reach the city, so don’t leave it to the last day.
- Credit card through the city’s website (Visa, MasterCard, or American Express). A 2% service fee is added.
- In person at most Canadian chartered banks and credit unions in Richmond. Bring your notice.
- 24-hour drop box on the west side of City Hall at 6911 No. 3 Road. Cheques only, no cash. Write your Folio Number on the cheque.
- By mail to 6911 No. 3 Road, Richmond, BC V6Y 2C1. Post-dated cheques for the due date are accepted. Postmarks are not treated as proof of payment date, so mail early.
- In person at City Hall, Monday to Friday, 8:15 a.m. to 5:00 p.m. Debit and credit are accepted; cash is not.
Monthly Payments Through PAWS
Richmond’s Pre-Authorized Withdrawal plan, PAWS, spreads payment over ten monthly installments from August through May. The city deducts a set amount from your bank account on the first of each month, and any remaining balance is withdrawn on the July due date so no penalty is triggered.8City of Richmond. Paying Your Property Taxes You can bundle property taxes with flat-rate utility charges in one withdrawal, or pay taxes alone.
Lowering Your Bill With the Home Owner Grant
If the Richmond property is your principal residence, the provincial Home Owner Grant reduces the amount of tax you actually owe. The regular grant for the Metro Vancouver region is $570.9Province of British Columbia. Home Owner Grant Homeowners who are 65 or older, or who have a qualifying disability, are eligible for a larger additional grant instead.
There is a property value cap. For 2026, the threshold is $2,075,000 in assessed or partitioned value; above that, the grant shrinks by $5 for every $1,000 over the threshold and eventually phases out entirely. Apply directly through the Province of British Columbia’s website, not through City Hall.
Missed a previous year? You can still claim retroactively, but the application for last year’s grant must be received by December 31 of the current year.10Province of British Columbia. Retroactive Home Owner Grant
Deferring Payment If You Can’t Pay
The BC Property Tax Deferment Program lets qualifying homeowners postpone payment entirely. Once approved, the Ministry of Finance pays your property taxes to Richmond on your behalf and registers a lien on your property. The deferred amount accrues compound interest, and the balance comes due when you sell, transfer ownership, or stop being eligible.11Province of British Columbia. Property Tax Deferment Program
There are two streams:
- Regular program, for homeowners who are 55 or older, surviving spouses, or persons with disabilities.
- Families with children program, for homeowners financially supporting a dependent child under 18.
The property must be your principal residence. You apply through the province, not the city. Deferment is a genuine option for asset-rich, cash-poor owners, but the interest compounds, so a balance built up over many years can grow substantially against the home.
Challenging Your Assessment
If the assessed value looks too high, you can challenge it, but the window is short. Notices arrive in early January and the process runs on a fixed calendar.12Province of British Columbia. Preparing for Your PARP Hearing
- Review your notice for accuracy. Wrong square footage, missing structural problems, or an incorrect property classification all inflate the value.
- Call your local BC Assessment office and raise the concern with an appraiser. Many issues get resolved informally at this stage.
- If it isn’t resolved, file a complaint with the Property Assessment Review Panel (PARP). The standard deadline is January 31; for 2026 it was extended to February 2 because January 31 fell on a weekend.13BC Assessment. Appeals
- At the hearing, you present your evidence first and BC Assessment responds. The panel does no independent research, so the outcome turns on what you bring.
- Decisions are mailed around early April.
- If you disagree with the PARP decision, you can appeal to the Property Assessment Appeal Board by April 30.
Strong appeals lean on comparable sales. Look up what similar properties in your neighbourhood sold for around the July 1 valuation date and put that in front of the panel. If the property has physical problems like a cracked foundation or water damage, bring photos and a written repair estimate.14Property Assessment Appeal Board. Single Family Residential Guide You can also request the property’s physical inventory from BC Assessment to check whether their records match reality; errors in recorded lot size or finished floor area are more common than most owners realize and feed directly into the assessed value.
Don’t Forget the Speculation and Vacancy Tax Declaration
Richmond sits inside a designated taxable region for the provincial Speculation and Vacancy Tax. Even if you qualify for an exemption, you must file a declaration with the province every year by March 31.15Province of British Columbia. Speculation and Vacancy Tax
As of 2026, Canadian citizens and permanent residents who owe the tax face a rate of about 1% of assessed value; foreign owners and those with primarily untaxed worldwide income face 3%. Most Richmond homeowners living in their own homes are exempt as principal residents, and landlords renting to arm’s-length tenants for qualifying periods are typically exempt as well. The common mistake is skipping the declaration, which can result in being taxed even when an exemption would have applied. The 2026 declaration deadline is March 31, and if tax is owed, it’s due July 2, 2026, the same date as your regular property taxes.