The top 10 highest valued properties in Richmond are all in the Agricultural Land Reserve.
While only two properties in Richmond made the top-500 most valued properties in the province – most were in Vancouver, West Vancouver and Whistler - Richmond’s most expensive ones are often mega-mansions found on properties that are supposed to be reserved for agriculture.
The exception is 6980 No. 9 Rd. which appears to only have greenhouses and no residential buildings.
Two of the properties have homes built in the late 1980s and range in size from about 3,400 square feet to about 6,000 square feet.
Property assessments are arriving in the mail, and one Richmond property owner – who made the top 500 list - will see a 10-fold increase in their assessment.
A 38-acre parcel in the Agricultural Land Reserve, located at 12777 No. 3 Rd., saw its value jump from $1.2 million in 2022 to $13 million this year.
This was the second highest assessed property in Richmond this year, second only to 11400 No. 2 Rd., which was assessed at $13,852,000.
A BC Assessment spokesperson said the agency can’t comment on individual properties, but a big jump like this is sometimes attributed to losing farming status.
Farming status significantly lowers property values and therefore property taxes.
Last year, the property owner paid $5,574 in taxes when the property was valued at $1.2 million. In comparison, the property owner of 11400 No. 2 Rd., - the highest assessed property in Richmond – paid about $56,000 in taxes last year.
Top 10 valued properties in Richmond
11400 No. 2 Rd.: $13,852,000
12777 No. 3 Rd.: $13,009,000
12911 No. 3 Rd.: $11,397,000
6980 No. 9 Rd.: $10,420,000
8340 Finn Rd.: $9,001,000
12160 No. 2 Rd.: $8,997,000
8660 Finn Rd.: $8,863,000
10751 Blundell Rd.: $7,920,000
11511 Blundell Rd.: $7,762,000
8511 No. 6 Rd.: $7,629,000
