Under current plans, owners of properties valued at more than £2 million will be hit with a surcharge of at least £2,500 from 2028.
Richmond Council says this unfairly penalises residents who have lived in their homes for decades and contributed to their community.
The authority says property prices have increased while incomes and personal circumstances have stayed largely the same or even declined.
It is estimated that around 5,730 properties in the borough would be impacted by the proposals.
The government has launched a consultation on the new High Value Council Tax Surcharge.
It says the move, announced at Budget 2025, will ensure those with the 1% most valuable properties pay their fair share.
