No Richmond property made BC Assessment’s 2021 list of the province’s 100 most valued, however, the worth of Richmond’s highest valued property jumped dramatically from last year.
The BC Assessment Authority pegged the property at 12777 No. 3 Road at $10.45 million, but its assessed value was only $136,850 last year.
The six-bedroom, nine-bathroom house sits on a 38-acre lot in the Gilmore area and sold for $9.5 million in 2018.
When asked about the jump, Bryan Murao, a deputy assessor with BC Assessment, said he cannot comment on specific properties, but the price change is likely related to farm classification. Properties can move in and out of farm classification, and it’s quite common for properties to have farm classification removed, he explained.
In second place is 12911 No. 3 Rd., a luxury property situated on 20 acres of private and gated land pegged at $9.691 million, down from $9.782 million last year. In an online description at priceypads.com, the home is described as having English gardens on half of the 20-acre property and featuring a two-lane bowling alley above its six-car garage and an in-ground swimming pool.
Coming in third is 8500 No. 6 Rd., a semi-custom built home sitting on a 10-acre lot, assessed at $8.474 million. Its assessment rose from just $128,432 last year. The dramatic increase may also be explained by reclassification.
All three properties are in the Agricultural Land Reserve (ALR).
It should be noted that assessed value and market price can be radically different as is the case with the most expensive house for sale in Richmond, at 9431 No. 6 Road, which is currently listed for $21 million, but the nine-bedroom, 11 bathroom mansion is only assessed at $4.26 million.
Assessments, which are currently in the mail, are intended to reflect a home’s market value as of July 1, 2020. Overall, assessments for single-family homes in Richmond are up about six per cent, while strata units are up about one per cent, according to BC assessment.
Count down from #10, here are the most expensive homes in Richmond:
10: 6700 Gibbons Dr - $5,474,000
Previously assessed: $5,361,000
Built: 2017
Beds: 6
Baths: 9
Size: 21750 sq. ft
9: 11491 Blundell Rd, Richmond -$5,538,000
Previously assessed: $5,568,000
Built: 2014
Beds: 7
Baths: 10
Size: 4.49 Acres
8: 6771 Gamba Dr, Richmond - $5,539,000
Previously assessed: $4,455,000
Built: 2017
Beds: 7
Baths: 9
Size: 0.501 Acres
7: 10751 Blundell Rd, Richmond- $5,683,000
Previously assessed: $4,749,000
Built: 2018
Beds: 9
Baths: 14
Size: 3.716 Acres
6: 8511 No. 6 Rd, Richmond - $6,287,000
Previously assessed: $6,359,000
Built: 2010
Beds: 7
Baths: 8
Size: 10.02 Acres
5: 12160 No. 2 Rd, Richmond - $7,202,000
Previously assessed: $7,155,000
Built: 2013
Beds: 7
Baths: 13
Size: 10 Acres
4: 8660 Finn Rd, Richmond - $7,401,000
Previously assessed: $884,807
Built: 1988
Beds: 4
Baths: 4
Size: 18.61 Acres
3: 8500 No. 6 Rd, Richmond - $8,474,000
Previously assessed: $128,432
Built: 1975
Beds: 4
Baths: 3
Size: 10 Acres
2: 12911 No. 3 Rd, Richmond - $9,691,000
Previously assessed: $9,782,000
Built: 1989
Beds: 5
Baths: 9
Size: 18.46 Acres
1: 12777 No. 3 Rd, Richmond - $10,454,000
Previously assessed: $136,850
Built: 2019
Beds: 6
Baths: 9
Size: 38.871 Acres
