Memphis, Shelby County, Tennessee Property Taxes

Name: Property Tax Bills Across Memphis, Shelby County, Tennessee
Creator: Ownwell
License: https://creativecommons.org/licenses/by-nc/4.0/

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

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

1.52%

Estimate Property Tax Bill

$1,414

$1,312

Ownwell’s Memphis Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Memphis with just two data points. By entering your property's estimated assessed value, our calculator applies Memphis’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by Shelby County — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Shelby. For those interested in more localized information, please scroll down to explore city-level trends!

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.

Property Tax Rates Across Memphis, Shelby County, Tennessee

Source: Ownwell

0.85%

1.19%

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 Memphis Tax Rate

1.52%

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%
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%
38113	N/A	N/A	N/A	N/A	N/A
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
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
38113	N/A	N/A	N/A	N/A	N/A
38152	N/A	N/A	N/A	N/A	N/A

Source: Ownwell

Property Tax Bills Across Memphis, Shelby County, Tennessee

In Memphis, located in Shelby County, TN, property tax bills are calculated based on the assessed value of a home, which is a percentage of the market value. The median home price in this area is $93,000. The local property tax rate is applied to this assessed value to determine the tax bill. Factors such as property location, improvements, and market conditions influence the assessed value, impacting the final tax bill. For homeowners in Memphis, property tax bills can vary significantly. The 25th percentile tax bill is $824, while the 75th percentile reaches $2,255. At the 90th percentile, tax bills can be as high as $4,113. The highest median tax bill in the area is $4,998, found in zip code 38120, while the lowest is $538 in zip code 38108. With the national median property tax rate at 1.02%, Memphis residents may find their tax bills relatively high. Ownwell assists homeowners by identifying potential savings through property tax appeals and exemptions, ensuring they pay only their fair share.

Property Tax Bills Across Memphis, Shelby County, Tennessee

Source: Ownwell

$538

$3,159

$5,779

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
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
38113	N/A	N/A	N/A	N/A	N/A
38152	N/A	N/A	N/A	N/A	N/A

Source: Ownwell