The city released 2006 property assessments on September 22. City Manager Bohenko said on average residential assessments went up 10 to 15 percent and commercial assessments are up 20 percent.
Increasing assessed values lowers Portsmouth’s expected tax rate for the current fiscal year from a predicted $18.30 per $1,000 of value, to around $15.72, but spending has increased from last year. Bohenko said tax bills for most residential properties will likely not increase from last year unless major improvements have been made to homes. Assessed values can be found on the city’s website: Click here.