Richmond’s Highest Assessed Properties: A Look at the Latest Numbers
Each year, BC Assessment releases updated property values across the province, and from time to time a few Richmond properties rise well above the rest. The latest assessment roll highlights three Richmond properties that have moved into the city’s highest assessed group, offering an interesting snapshot of how value is concentrated at the very top end of the market.
These assessments do not reflect asking prices or recent sales activity. They estimate value as of July 1 of the previous year using land characteristics, zoning, location, and comparable data. While they are not a pricing tool, they do provide useful context when discussing property taxes and long term value trends.
Three Properties Newly Ranked Among Richmond's Highest Assessed
According to the most recent assessment data, the following Richmond properties now rank among the city’s highest assessed:
12160 No. 2 Road assessed at approximately$8.8 million
8660 Finn Road assessed at approximately$8.4 million
10591 Palmberg Road newly added to the top tier of assessed values
These properties stand out not just for their dollar value, but for their land size, permitted uses, and location. Many of Richmond’s highest assessed properties are large parcels, often agricultural or estate style, rather than homes in conventional residential neighbourhoods.
A Reminder About Assessed Value
Assessed value and market value are not the same thing.
Assessments are created primarily for property taxation purposes, not to determine what a home would sell for in today’s market. In changing conditions, the difference between an assessed value and real world sale price can be significant, particularly for unique or high value properties like those listed above.
This is why assessments should always be viewed as a reference point, not a pricing strategy.
Why This Information Still Matters
Most homeowners will never see figures like these on their assessment notice, but the data helps illustrate how Richmond land values are evolving and where the city’s most valuable properties tend to be concentrated. It also reinforces just how diverse the Richmond real estate landscape really is, from compact condos to multi acre estate properties.
If you are curious about how your own assessment compares to current market conditions, or what it may mean for your property taxes or long term plans, that conversation should always be grounded in real market data, not just a single number on a notice.
Richmond's Highest Assessed Properties
BC Assessment has released its latest property values and a few Richmond properties are now sitting at the very top of the assessment list. These standout properties give an interesting snapshot of how land values are distributed across the city.
A quick reminder assessed value is not the same as market value. Assessments are used for property taxation and are based on data from July 1 of the previous year. In many cases actual sale prices can be higher or lower depending on current market conditions, property type and location.
Even if your home is nowhere near the top of the list, understanding assessed value helps put property taxes and long term trends into perspective.
If you have questions about how your assessment compares to today's market or what it means for your home I'm always happy to help.
Learn more or request a home value at
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