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ORDINANCE NO. 2026-62 <br />AN ORDINANCE TO AMEND AND REORDAIN ARTICLE II (REAL ESTATE <br />ASSESSMENTS) OF CHAPTER 35 (TAXATION) OF THE CODE OF THE CITY <br />OF PORTSMOUTH, VIRGINIA BY ADDING A NEW DIVISION 3 TITLED <br />"CLASSIFICATION AND ASSESSMENT OF BLIGHTED PROPERTIES AND <br />DERELICT BUILDINGS" FOR THE PURPOSE OF ESTABLISHING BLIGHTED <br />PROPERTIES AND DERELICT BUILDINGS AS SEPARATE CLASSES OF <br />PROPERTY FOR TAXATION PURPOSES AND PROVIDING THAT BLIGHTED <br />PROPERTIES SHALL BE TAXED AT A RATE FIVE PERCENT, AND <br />DERELICT BUILDINGS TAXED AT A RATE TEN PERCENT, HIGHER THAN <br />THE TAX RATE APPLICABLE TO THE GENERAL CLASS OF REAL <br />PROPERTY. <br />BE IT ORDAINED by the Council of the City of Portsmouth, Virginia: <br />1. That Article 11 of Chapter 35 of the Code of the City of Portsmouth is <br />amended by adding a new Division 3 titled "Classification and Assessment of Blighted <br />Properties and Derelict Buildings" as shown on Exhibit A hereto. <br />2. That the purpose of the amendment is to establish blighted properties and <br />derelict buildings as separate classes of property for taxation purposes and provide that (a) <br />blighted properties shall be taxed at a rate five percent higher than the tax rate applicable <br />to the general class of real property and (b) derelict buildings shall be taxed at a rate ten <br />percent higher than the tax rate applicable to the general class of real property. <br />3. That this ordinance shall take effect on the date of its adoption. <br />ADOPTED by the Council of the City of Portsmouth, Virginia, at a meeting held <br />on June 23, 2026. <br />Teste: <br />City Clerk <br />