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Tax Structure – The Real Proof We Want Your Business

Portsmouth’s tax structure favors new and expanding businesses.  Both state and local tax rates are modest, with credits and other incentives available to many companies.

 Personal Property
 Personal Property Tax $5.00 per $100 assessed value
 Personal Property Tax – Boats $.50 per $100 of assessed value
 Real Estate Tax $1.30 per $100 of assessed value
 Residential Sewer Charge $3.72 per 1,000 gallons
 Residential Solid Waste Fee $33.36 per month
 Residential Water Charges $4.75 per 1,000 gallons

 

Commercial
 Machinery and Tool Tax $3.00 per $100 of original cost at 50% value
 Business Personal Property $5.00 per $100 of original cost at 50% value
 Admissions and Amusement Tax 10%
 Cable Franchise Fee 5% of gross receipts
 Guest Lodging Tax 8% plus 6% retail sales
 Retail Sales Tax (includes 1% collected for the city) 6%
 Restaurant Food Tax 6.5% plus 6% of retail sales

 

 Commercial Utility Tax
 Cable 20% of first $2,000
 Electricity 20% of first $2,000
 Gas 20% of first $2,000

 

 Stormwater Fees
 $9.25 per equivalent residential unit (ERU) per month for all properties, both residential and commerical

 

 Motor Vehicle License Fees
 Motorcycle $24.00
 Automobile (vehicles up to 4,000 pounds) $32.00
Automobile (vehicles over 4,000 pounds) $37.00

 

Residential Utility Taxes
 Electricity $3.40