23701 Property Tax Rate

Property owners in ZIP code 23701 (Portsmouth, Virginia) pay a median of $2,470/year in property taxes on homes valued at $218,900. This translates to an effective tax rate of 1.13%, which is 68% above the Virginia state average of 0.67%.

The monthly property tax burden for a median-valued home in 23701 is approximately $206, which factors into escrow payments on mortgages. This ZIP code is located within Portsmouth city. This is $227 more than the Virginia average of $2,243/year.

Compared to similar ZIP codes in Virginia, 23701 has higher property taxes. ZIP codes with similar effective rates include 23605 (1.11%) and 23703 (1.11%).

In Portsmouth, property taxes represent approximately 3.9% of the median household income of $63,389, providing context for the relative tax burden on homeowners in this area.

Virginia has no state property tax — Portsmouth city's higher effective rate (1.13%) reflects local tax policy; assessments do not automatically change at sale. Portsmouth qualifies for the state Circuit Breaker program for seniors 65+ and disabled homeowners with limited income — apply to the Portsmouth Assessor to reduce your annual tax burden. File an assessment appeal with the Portsmouth Assessor within 30 days of your notice if the appraised value appears inaccurate.