Shelby County, Tennessee Property Taxes
The median property tax rate in Shelby County is 1.52%, which is significantly higher than both the national median of 0.99% and Tennessee's state median of 0.64%. With the median home value in Shelby County at $147,100, the typical annual property tax bill is approximately $1,907. Property taxes in Shelby County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Shelby County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Memphis or another part of Shelby County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shelby County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.52%
Estimate Property Tax Bill
$2,236
$2,075
Ownwell’s Shelby County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Shelby County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Shelby County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Shelby County, Tennessee
Property taxes in Shelby County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Shelby County is 1.52%, which is higher than the U.S. national median of 0.99%. Local government entities within Shelby County set these rates annually, and they can vary significantly between different areas within the county. Each year, Shelby County estimates its required budget to maintain services for the upcoming fiscal year, and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Shelby County's effective property tax rate with other areas in Tennessee and the national median. For comparison, the city of Memphis has one of the higher property tax rates in Tennessee at 1.52%, while the city of Atoka boasts one of the lowest at 0.85%. Analyzing how Shelby County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Shelby County Tax Rate
1.52%
Average Tennessee Tax Rate
0.64%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shelby County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arlington | 0.85% | 0.85% | 1.17% | 1.17% | 1.28% |
| Atoka | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
| Bartlett | 1.28% | 1.28% | 1.28% | 1.28% | 1.28% |
| Brighton | 0.66% | 0.85% | 0.85% | 0.85% | 0.85% |
| Collierville | 1.31% | 1.31% | 1.31% | 1.31% | 1.31% |
| Cordova | 0.85% | 0.85% | 1.52% | 1.52% | 1.52% |
| Eads | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
| Germantown | 1.31% | 1.31% | 1.31% | 1.31% | 1.31% |
| Lakeland | 0.85% | 0.85% | 0.85% | 0.85% | 0.85% |
| Marlton | N/A | N/A | N/A | N/A | N/A |
| Memphis | 1.42% | 1.52% | 1.52% | 1.52% | 1.52% |
| Millington | 0.85% | 0.85% | 0.85% | 1.20% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Shelby County, Tennessee
In Shelby County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Shelby County Appraisal District. The assessed value, however, is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Shelby County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Shelby County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively. In Shelby County, the city with the highest median tax bill is Germantown, with a median of $4,833, while Marlton has the lowest median tax bill at $271.
Property Tax Assessment Values Across Shelby County, Tennessee
Source: Ownwell
$34,300
$261,525
$488,750
Average Shelby County Assessed Value
$147,100
Average Tennessee Assessed Value
$173,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shelby County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arlington | $160,060 | $221,500 | $288,400 | $374,100 | $454,920 |
| Atoka | $177,690 | $207,050 | $259,350 | $319,925 | $444,270 |
| Bartlett | $157,600 | $182,000 | $226,500 | $281,000 | $335,200 |
| Brighton | $94,600 | $149,600 | $200,300 | $263,700 | $364,460 |
| Collierville | $229,540 | $294,600 | $370,000 | $472,700 | $590,300 |
| Cordova | $149,300 | $174,800 | $216,600 | $257,000 | $309,800 |
| Eads | $203,050 | $338,275 | $488,750 | $754,200 | $1,386,600 |
| Germantown | $258,500 | $312,050 | $368,300 | $480,600 | $677,000 |
| Lakeland | $170,360 | $207,450 | $297,100 | $401,550 | $501,400 |
| Marlton | N/A | N/A | N/A | N/A | N/A |
| Memphis | $30,900 | $53,400 | $93,000 | $163,700 | $277,400 |
| Millington | $64,700 | $104,950 | $144,200 | $226,200 | $309,240 |
Source: Ownwell
Property Tax Bills Across Shelby County, Tennessee
In Shelby County, TN, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. The tax rate is then applied to this assessed value to calculate the annual tax bill. Various factors such as property location, market trends, and improvements to the property can influence the assessed value. For instance, homeowners in Shelby County experience a wide range of tax bills, with the 25th percentile at $1,036 and the 75th percentile at $3,369. In some cases, tax bills can reach up to $5,070 at the 90th percentile. Comparatively, Germantown, a city within Shelby County, has the highest median tax bill at $4,833, while Marlton has the lowest at $271. These variations highlight how local factors and property values significantly impact tax bills. Understanding these elements helps homeowners anticipate their financial responsibilities and plan accordingly, especially when the national median property tax rate is 0.99%.
Average Shelby County Tax Bill
$1,907
Average Tennessee Tax Bill
$1,206
Average United States Tax Bill
$2,690
Property Tax Bills Across Shelby County, Tennessee
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arlington | $1,844 | $2,534 | $3,256 | $4,133 | $4,804 |
| Atoka | $1,499 | $1,776 | $2,189 | $2,613 | $3,214 |
| Bartlett | $2,026 | $2,335 | $2,902 | $3,601 | $4,291 |
| Brighton | $897 | $1,268 | $1,739 | $2,268 | $2,934 |
| Collierville | $3,024 | $3,870 | $4,830 | $6,119 | $7,642 |
| Cordova | $1,459 | $1,907 | $2,560 | $3,382 | $3,987 |
| Eads | $1,770 | $2,827 | $4,041 | $6,092 | $10,918 |
| Germantown | $3,392 | $4,090 | $4,833 | $6,310 | $8,931 |
| Lakeland | $1,462 | $1,773 | $2,541 | $3,484 | $4,454 |
| Marlton | N/A | N/A | N/A | N/A | N/A |
| Memphis | $481 | $824 | $1,349 | $2,255 | $4,113 |
| Millington | $628 | $969 | $1,527 | $2,247 | $2,981 |
Source: Ownwell