Property Taxes in Portsmouth, Virginia
Median Portsmouth, Virginia effective property tax rate: 1.23%, significantly lower than the national median of 1.02%, and higher than the Virginia state median of 0.90%.
Median Portsmouth, Virginia home value: $224,120
Median annual Portsmouth, Virginia tax bill: $2,758, $358 higher than the national median property tax bill of $2,400.
How are property taxes in Portsmouth calculated?
Property taxes in Portsmouth, Virginia are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Portsmouth's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Portsmouth, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
How Does the Portsmouth Property Tax Calculator Work?
Use this Portsmouth property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Portsmouth's median effective tax rate of 1.23% — based on actual property records in Portsmouth County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Portsmouth's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Portsmouth: rates range from $2,324.00 in 23702 to $3,416.00 in 23703, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Portsmouth.
About Portsmouth Property Taxes
About Property Taxes in Portsmouth, Portsmouth, Virginia
Portsmouth's median effective property tax rate of 1.23% is higher than the Virginia state median of 0.90% and higher than the national median of 1.02%. This rate reflects the Portsmouth County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Portsmouth. Homeowners in the 23704 ZIP code carry a median effective rate of 1.23%, while those in 23703 pay 1.23%. This spread reflects how school district boundaries and local assessment districts are drawn across Portsmouth County. Understanding which part of Portsmouth you live in can make a meaningful difference to your annual tax bill.
Portsmouth homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the June 1, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Portsmouth, Portsmouth County, Virginia
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Portsmouth's effective property tax rate to other cities in Virginia and the median property tax rates in Virginia and the U.S.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Portsmouth Tax Rate
1.23%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Portsmouth County Tax Rate
1.23%
Median Effective Virginia Tax Rate
0.90%
Median Effective United States Tax Rate
1.27%
Property Tax Rates Across Portsmouth, Portsmouth County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23701 | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% |
| 23702 | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% |
| 23703 | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% |
| 23704 | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% |
| 23707 | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% |
Source: Ownwell
Property Tax Assessment Values Across Portsmouth, Portsmouth County, Virginia
When examining property taxes in Portsmouth, Virginia, understanding the distinction between market value and assessed value is crucial.
The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Portsmouth County appraisal district estimates the market value for tax purposes.
The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices:
In Portsmouth County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of March.
Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Portsmouth.
For example, the median home price in Portsmouth is $224,120, with tax bills ranging significantly across the county. 23703 has the highest median home price at $277,600.
Property Tax Assessment Values Across Portsmouth, Portsmouth County, Virginia
Source: Ownwell
$188,945
$233,273
$277,600
Median Portsmouth Market Value
$224,120
Median Portsmouth County Market Value
$224,120
Median Virginia Market Value
$323,500
Median United States Market Value
$274,101
Property Tax Assessment Values Across Portsmouth, Portsmouth County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23701 | $159,605 | $190,178 | $225,290 | $267,850 | $321,335 |
| 23702 | $146,498 | $165,260 | $188,945 | $226,825 | $289,960 |
| 23703 | $156,270 | $209,360 | $277,600 | $324,900 | $381,786 |
| 23704 | $67,500 | $142,030 | $195,020 | $244,880 | $305,566 |
| 23707 | $128,960 | $174,460 | $215,350 | $267,600 | $322,730 |
Source: Ownwell
Property Tax Bills Across Portsmouth, Portsmouth County, Virginia
Property tax bills in Portsmouth are based on the assessed value of a home and the local tax rate set for the area. When a property’s market value changes, the assessed value can change too, which affects the final bill homeowners receive. The median home price in Portsmouth is $224,120, and that value helps shape how much tax is owed each year.
Homeowners in Portsmouth typically see tax bills that vary by neighborhood and property characteristics. The 25th percentile tax bill is $2,186, while the 75th percentile is $3,488. At the higher end, the 90th percentile reaches $4,191, showing how much bills can rise for higher-valued homes. ZIP code 23703 has the highest median tax bill at $3,416, while ZIP code 23702 has the lowest at $2,324.
For homeowners, this means property taxes can be a significant ongoing cost, especially when home values increase faster than expected.
Median Portsmouth Tax Bill
$2,758
Median Portsmouth County Tax Bill
$2,758
Median Virginia Tax Bill
$2,852
Median United States Tax Bill
$3,209
Property Tax Bills Across Portsmouth, Portsmouth County, Virginia
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 23701 | $1,969 | $2,341 | $2,771 | $3,295 | $3,953 |
| 23702 | $1,804 | $2,033 | $2,324 | $2,790 | $3,567 |
| 23703 | $1,951 | $2,586 | $3,416 | $3,997 | $4,695 |
| 23704 | $842 | $1,754 | $2,401 | $3,013 | $3,758 |
| 23707 | $1,427 | $2,142 | $2,652 | $3,293 | $3,970 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | June 1 |
Links | |
|---|---|
| Portsmouth Tax Assessor | |
| Website | data.portsmouthva.gov |