Property Tax & Income in Portsmouth city, Virginia
Portsmouth city has an effective property tax rate of 1.04%. On the median home value of $246,900, that's roughly $2,557 per year. Median household income is $60,491.
What you'll pay, at a glance
Property taxes are the largest local tax most homeowners pay. The effective rate measures the real tax bill as a share of home value — a more useful number than the nominal “mill rate,” because assessment practices vary county to county.
| Metric | Portsmouth city | Virginia (state context) |
|---|---|---|
| Effective property tax rate1 | 1.04% | 0.60% |
| Median home value1 | $246,900 | — |
| State income tax3 | top rate 5.75% | top rate 5.75% |
| State sales tax3 | 5.77% combined | 5.77% combined |
How this is calculated
The effective property tax rate is the median real-estate tax bill divided by the median home value — both for owner-occupied homes, from the U.S. Census Bureau's American Community Survey (ACS 5-year estimates)1. Median income is also from the ACS1. Federal and state income-tax figures use IRS2 and Tax Foundation3 data.
About Portsmouth city, VA
In Portsmouth, Virginia, the median home value of $246,900 carries an annual real-estate tax bill of about $2,557, based on an effective rate of 1.036%. That's a meaningful line item against a median household income of $60,491 — roughly one dollar of every twenty-four earned goes toward property taxes. The statewide median effective rate is 0.601%, and Portsmouth ranks 3rd of 133 counties in Virginia for property tax rate, so homeowners here pay considerably more than many elsewhere in the state. Nationally, the median effective rate is 0.794%, which Portsmouth also exceeds. For a household bringing in around $60,000 a year, setting aside $2,557 for taxes shapes budgeting decisions throughout the year, from housing costs to savings. Per-capita income in the county sits at $33,568.