City of Portsmouth, Virginia - Office of The Real Estate Assessor

VIRGINIA

REAL ESTATE ASSESSOR
801 Crawford Street, 2nd Floor
P.O. Box 820
Portsmouth, Virginia 23705
Telephone : (757) 393-8631
Fax: (757) 393-8177
assessor@portsmouthva.gov

PREVIOUS 3 YEARS TAX COLLECTION AND TAX RATES

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:

2014 Tax Rate: $1.27 per $100

The tax formula for tax year starting July 1, 2014 is:

Assessment x tax rate = tax bill

Example:

Tax Rate: $1.27 per $100

Property Value: $100,000

$100,000 x .0127 = $1,270 annual tax bill

2013 Tax Rate: $1.27 per $100

The tax formula for tax year starting July 1, 2013 is:

Assessment x tax rate = tax bill

Example:

Tax Rate: $1.27 per $100

Property Value: $100,000

$100,000 x .0127 = $1,270 annual tax bill

2012 Tax Rate: $1.27 per $100

The tax formula for tax year starting July 1, 2012 is:

Assessment x tax rate = tax bill

Example:

Tax Rate: $1.27 per $100

Property Value: $100,000

$100,000 x .0127 = $1,270 annual tax bill