Computation of Tax

Real Estate taxes are calculated by multiplying the property assessment by the tax rate. City Council determines the real estate tax rate in the Spring of each year. The rate will apply to the upcoming tax year beginning on July 1. The tax rate in the City of Portsmouth is expressed in dollars per one hundred dollars of assessed value. The tax formula to calculate your taxes is as follows:

Formula

The tax formula for tax year starting July 1, 2017 is:

• Assessment x tax rate = tax bill
• Example:
  • Tax Rate: $1.30 per $100
  • Property Value: $100,000
  • $100,000 x .0130 = $1,300 annual tax bill

Property Taxes

The revenues projected from real estate assessment are vital to the City’s annual budget. The City Council determines the income the City must generate in order to provide municipal services to the citizens. The Council then sets the tax rate that will yield the needed revenue. This rate multiplied by the assessed value of the property will determine the taxes owed by each property owner.

Tax Collection

The real estate tax is billed and collected by the City Treasurer of Portsmouth. Questions about real estate tax bills should be directed to the Portsmouth City Treasurer by calling, writing or visiting the office on the first floor of City Hall.
Office of the Treasurer
801 Crawford Street
Portsmouth, VA 23704-3872
Phone: 757-393-8651

Quarter Collections

Real estate taxes are billed and collected quarterly in the City of Portsmouth. The dates for those quarters are as follows:

• July 1 - September 30
• October 1 - December 31
• January 1 - March 31
• April 1 - June 30th

The quarterly due dates are September 30, December 31, March 31 and June 30. Those citizens qualifying for Tax Relief or the Tax Freeze Program have a quarterly due date of October 5, January 5, April 5 and July 5. Additionally, the City Treasurer may grant these due dates to senior citizens that do not qualify for the Tax Relief or Tax Freeze program. Please contact the City Treasurer’s Office for details.

Stormwater Management Utility Fee

The City Treasurer includes the Stormwater Management Utility fee on the quarterly real estate tax statements. All citizens are required to pay this fee. Please contact the Public Utilities 757-393-8691, if you have questions about the Stormwater Management Utility fees (SMU fees).

Mortgage Payments

If taxes are included in your mortgage payments, the City will bill your bank or mortgage lender for taxes due. However, if your taxes are not paid through your bank or mortgage company, or you do not receive a quarterly statement, please contact the City Treasurer’s Office. You are still liable for the taxes due. Failure to receive a bill, does not relieve the taxpayer from payment of tax, penalty and interest.