Richmond's real estate landscape is experiencing a dramatic shift, with three properties newly appearing on the list of the city's highest assessed values. These newcomers have seen substantial increases in their valuations, reflecting significant changes in property worth over the past year. Notably, all of Richmond's top 10 most highly assessed properties are situated within the Agricultural Land Reserve (ALR).
Key Takeaways
- Three Richmond properties have joined the list of the highest assessed properties.
- All top 10 highest assessed properties in Richmond are located in the Agricultural Land Reserve (ALR).
- Significant increases in assessed values have been observed for these properties.
Dramatic Value Increases in the ALR
BC Assessment's latest report reveals a striking surge in property values, particularly for those within the Agricultural Land Reserve. The most expensive property in Richmond, a 35-acre parcel with an 8,700-square-foot home at 14791 Westminster Hwy., has seen its assessed value nearly quadruple, jumping from just under $3 million in 2025 to $11.75 million for 2026. This property is located south of Green Acres Golf Course, west of No. 6 Road.
Another significant rise is observed at 15631 Cambie Rd., west of No. 7 Road. Its land value escalated from approximately $163,000 in 2025 to over $10 million this year, making it the second highest valued property. The property at 10591 Palmberg Rd. also experienced a substantial increase, with its land assessed at $3.9 million this year, a significant jump from $18,228 in the previous year.
Factors Influencing Assessed Values
It is important to note that properties not actively being farmed can lose their agricultural status, which can lead to a substantial increase in their assessed values. BC Assessment has completed its evaluations for 2026, and property owners will receive their updated assessments by mail.
Top 10 Highest Assessed Properties in Richmond for 2026
Here is a list of the top 10 highest assessed properties in Richmond for 2026:
