Portsmouth budget proposal addresses tax, waterfront plans

PORTSMOUTH — Portsmouth’s proposed $1.02 billion fiscal 2026 budget includes tax relief on vehicles and real estate, employee raises and funding for a new public safety facility and long-term planning for relocation of City Hall.

The proposed operating budget, which will span July 1 to June 30, 2026, is $873.5 million, while the multi-year capital improvement plan will use $143 million in fiscal 2026.

Residents can weigh in on the proposed budget during city council meetings on April 8 and April 22. Council is expected to adopt the budget in May.

Following Portsmouth City Council action Tuesday, taxpayers may see lower vehicle tax bills as overall assessments decreased and council members again granted a 50% tax credit on personal property. Council members are also weighing another real estate tax credit that would effectively lower the rate for taxpayers.

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