Memphis, Shelby County, Tennessee Property Taxes
Median Memphis, TN effective property tax rate: 1.52%, significantly higher than the national median of 1.02%, but lower than the Tennessee state median of 0.64%.
Median Memphis, TN home value: $93,000
Median annual Memphis, TN tax bill: $1,349, $1,051 lower than the national median property tax bill of $2,400.
How are property taxes in Shelby calculated?
Property taxes in Memphis, TN are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Memphis’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Memphis, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Memphis, Shelby County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.52%
Estimate Property Tax Bill
$1,414
$1,312
Property Tax Rates Across Memphis, Shelby County, Tennessee
Local government entities set tax rates, which can vary widely within a state. The process involves estimating the county's required budget to provide services and then dividing that by the total value of all taxable property within its jurisdiction, resulting in the property tax rate. While votes and laws play a role in setting these rates and budgets, this is generally the annual process.
In Memphis, located in Shelby County, the effective property tax rate stands out when compared to other cities in Tennessee and the national median. With a median property tax rate of 1.52%, Memphis is above the national median of 1.02%. Within the city, the highest median tax rate is found in the 38106 zip code, while the lowest is in the 38125 zip code.
These rates reflect how local fiscal needs and property values influence the tax landscape. Understanding these variations is crucial for homeowners looking to manage their property tax liabilities effectively. By staying informed, property owners can make better decisions and potentially benefit from appealing their property taxes or seeking exemptions.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Memphis Tax Rate
1.52%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Shelby County Tax Rate
1.52%
Median Effective Tennessee Tax Rate
0.64%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Memphis, Shelby County, Tennessee
Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
38103 | 1.52% | 1.52% | 1.52% | 1.52% | 1.52% |
38104 | 1.52% | 1.52% | 1.52% | 1.52% | 2.44% |
38105 | 1.52% | 1.52% | 1.52% | 1.52% | 2.44% |
38106 | 1.52% | 1.52% | 1.52% | 1.52% | 1.52% |
38107 | 1.52% | 1.52% | 1.52% | 1.52% | 2.10% |
38108 | 1.52% | 1.52% | 1.52% | 1.52% | 1.52% |
38109 | 1.52% | 1.52% | 1.52% | 1.52% | 1.52% |
38111 | 1.52% | 1.52% | 1.52% | 1.52% | 1.52% |
38112 | 1.52% | 1.52% | 1.52% | 1.52% | 2.10% |
38113 | N/A | N/A | N/A | N/A | N/A |
38114 | 1.52% | 1.52% | 1.52% | 1.52% | 1.52% |
38115 | 1.52% | 1.52% | 1.52% | 1.52% | 1.52% |
38116 | 1.52% | 1.52% | 1.52% | 1.52% | 1.52% |
38117 | 1.52% | 1.52% | 1.52% | 1.52% | 1.52% |
38118 | 1.52% | 1.52% | 1.52% | 1.52% | 1.52% |
38119 | 1.52% | 1.52% | 1.52% | 1.52% | 1.52% |
38120 | 1.52% | 1.52% | 1.52% | 1.52% | 1.52% |
38122 | 1.52% | 1.52% | 1.52% | 1.52% | 1.52% |
38125 | 0.85% | 0.85% | 0.85% | 0.85% | 1.52% |
38126 | 1.52% | 1.52% | 1.52% | 1.52% | 1.52% |
38127 | 0.85% | 1.52% | 1.52% | 1.52% | 1.52% |
38128 | 0.85% | 1.52% | 1.52% | 1.52% | 1.52% |
38133 | 1.52% | 1.52% | 1.52% | 1.52% | 1.52% |
38134 | 1.52% | 1.52% | 1.52% | 1.52% | 1.52% |
38135 | 0.85% | 0.85% | 0.85% | 1.28% | 1.52% |
38141 | 0.85% | 0.85% | 1.52% | 1.52% | 1.52% |
38152 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Memphis, Shelby County, Tennessee
When examining property taxes in Memphis, TN, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Shelby County Assessor's Office estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Shelby County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Memphis.
For example, the median home price in Memphis is $93,000, with tax bills ranging significantly across the county. The zip code 38120 has the highest median home price at $326,600.
Property Tax Assessment Values Across Memphis, Shelby County, Tennessee
Source: Ownwell

$34,300
$261,525
$488,750
Median Memphis Market Value
$93,000
Median Shelby County Market Value
$147,100
Median Tennessee Market Value
$173,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Memphis, Shelby County, Tennessee
Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
38103 | $150,600 | $215,100 | $283,100 | $365,200 | $487,900 |
38104 | $82,400 | $156,000 | $230,600 | $328,975 | $470,120 |
38105 | $29,040 | $39,700 | $53,500 | $115,800 | $170,360 |
38106 | $18,500 | $26,300 | $36,100 | $49,200 | $65,190 |
38107 | $17,700 | $25,000 | $70,700 | $141,500 | $209,300 |
38108 | $18,200 | $23,375 | $34,300 | $48,000 | $61,800 |
38109 | $25,700 | $39,500 | $58,900 | $75,100 | $96,400 |
38111 | $37,800 | $51,500 | $77,000 | $195,650 | $356,100 |
38112 | $25,400 | $34,800 | $62,600 | $241,800 | $379,560 |
38113 | N/A | N/A | N/A | N/A | N/A |
38114 | $18,800 | $30,300 | $44,900 | $60,700 | $86,400 |
38115 | $30,200 | $75,400 | $118,400 | $139,200 | $154,600 |
38116 | $63,700 | $83,600 | $102,500 | $130,250 | $158,400 |
38117 | $118,600 | $144,900 | $217,150 | $338,700 | $556,440 |
38118 | $27,800 | $65,600 | $77,900 | $89,575 | $103,700 |
38119 | $103,900 | $171,725 | $218,300 | $303,375 | $392,050 |
38120 | $142,100 | $236,100 | $326,600 | $493,900 | $822,910 |
38122 | $37,000 | $49,500 | $69,800 | $94,550 | $151,180 |
38125 | $139,300 | $165,300 | $195,800 | $239,475 | $305,570 |
38126 | $20,040 | $25,900 | $37,700 | $60,700 | $110,060 |
38127 | $39,330 | $49,300 | $60,000 | $72,800 | $89,000 |
38128 | $47,700 | $67,100 | $94,300 | $121,000 | $145,900 |
38133 | $27,500 | $126,600 | $139,900 | $153,550 | $167,900 |
38134 | $98,010 | $117,000 | $136,800 | $157,825 | $177,090 |
38135 | $114,600 | $129,000 | $146,800 | $172,600 | $213,420 |
38141 | $89,250 | $106,500 | $126,200 | $148,400 | $168,400 |
38152 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Memphis, Shelby County, Tennessee
Median Memphis Tax Bill
$1,349
Median Shelby County Tax Bill
$1,907
Median Tennessee Tax Bill
$1,206
Median United States Tax Bill
$2,400
Property Tax Bills Across Memphis, Shelby County, Tennessee
Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
---|---|---|---|---|---|
38103 | $2,354 | $3,324 | $4,317 | $5,572 | $7,446 |
38104 | $1,400 | $2,551 | $3,658 | $5,183 | $7,292 |
38105 | $494 | $625 | $847 | $1,802 | $2,701 |
38106 | $286 | $413 | $563 | $774 | $1,037 |
38107 | $286 | $397 | $1,129 | $2,234 | $3,292 |
38108 | $280 | $366 | $538 | $742 | $982 |
38109 | $394 | $605 | $891 | $1,145 | $1,468 |
38111 | $589 | $804 | $1,228 | $3,045 | $5,538 |
38112 | $391 | $551 | $1,063 | $3,798 | $5,926 |
38113 | N/A | N/A | N/A | N/A | N/A |
38114 | $295 | $490 | $701 | $953 | $1,384 |
38115 | $624 | $1,198 | $1,816 | $2,125 | $2,357 |
38116 | $984 | $1,279 | $1,566 | $1,989 | $2,421 |
38117 | $1,814 | $2,214 | $3,317 | $5,182 | $8,618 |
38118 | $434 | $1,011 | $1,200 | $1,386 | $1,628 |
38119 | $1,599 | $2,622 | $3,341 | $4,656 | $6,037 |
38120 | $2,165 | $3,602 | $4,998 | $7,534 | $12,558 |
38122 | $573 | $774 | $1,086 | $1,465 | $2,376 |
38125 | $1,320 | $1,545 | $1,826 | $2,315 | $2,812 |
38126 | $304 | $393 | $569 | $795 | $1,169 |
38127 | $476 | $707 | $911 | $1,109 | $1,340 |
38128 | $722 | $956 | $1,231 | $1,706 | $2,166 |
38133 | $457 | $1,928 | $2,131 | $2,341 | $2,562 |
38134 | $1,442 | $1,805 | $2,106 | $2,434 | $2,739 |
38135 | $1,001 | $1,185 | $1,385 | $1,948 | $2,577 |
38141 | $1,103 | $1,331 | $1,594 | $1,920 | $2,210 |
38152 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell