Property Taxes in Memphis and Shelby County

How to Calculate Your Residential Property Tax

Property tax is a sore subject for many homeowners, but it can also be a confusing one. If you just want to know the property tax rates in the Memphis area or you want to learn how to calculate your own property tax, the information below will help.

What is being taxed?

In Tennessee, residential property taxes are only applied to 25% of the appraised value of your home and property. This 25% is called the assessed value.

Residential properties are defined as single family residences, owner-occupied condominiums, and owner-occupied duplexes. (Commercial, industrial, farm, and exempt properties are taxed differently.)

An example of the assessment of a residential property isa home that is appraised at $100,000. This property will only be taxed on $25,000. You can calculate the assessed value yourself or you can enter your address at the Shelby County Property Assessor's website to find out your assessed value.

How is it calculated?

The tax rate of the county and the city in which you live is imposed on every $100 of the assessed value of your home. Using the example above, $100 goes into $25,000 250 times, so you would simply multiply your tax rate by 250.

What is my tax rate?

Remember that there is a separate tax rate for the county and for each city within the county. The Shelby County tax rate for 2014 is 4.37.

Each municipality has also has a city tax rate. These tax rates are as follows:

  • Arlington: 1.15

  • Bartlett: 1.62

  • Collierville: 1.53

  • Germantown: 1.93

  • Lakeland: 0.85

  • Memphis: 3.4

  • Millington: 1.53

So again, using the above example, if that $100,000 home is in Bartlett, the taxes would be calculated like this:

$100,000 / 25% = $25,000

$25,000 / $100 = 250

250 x $4.37 (county tax) = $1,092.50

250 x 1.62 (city tax) = $405
 

Formulas

Memphis resident: Assessed value / $100 x $4.37 PLUS Assessed value / $100 x $3.4

Arlington resident: Assessed value / $100 x $4.37 PLUS Assessed value / $100 x $1.15

Bartlett resident: Assessed value / $100 x $4.37 PLUS Assessed value / $100 x $1.62

Collierville resident: Assessed value / $100 x $4.37 PLUS Assessed value / $100 x $1.53

Germantown resident: Assessed value / $100 x $4.37 PLUS Assessed value / $100 x $1.93

Laketown resident: Assessed value / $100 x 4.37 PLUS Assessed value / $100 x 0.85

Millington resident: Assessed value / $100 x $4.37 PLUS Assessed value / $100 x $1.53

 

Examples

Memphis Resident
Appraised Value: $150,000
Assessed Value: $37,500
County Tax: $1638.75City Tax: $1275.00

Germantown Resident
Appraised Value: $310,000
Assessed Value: $77,500
County Tax: $3386.75City Tax: $1495.75

 

When are taxes due?

As of 2014, Shelby County property tax bills are mailed in September and may be paid beginning on the first Monday in October. Payments are considered late after March 1 of the following year. For Memphis city property taxes, bills are mailed out in June and must be paid by September 1.

For other due dates outside of the city of Memphis, visit the Shelby County Assessor of Property website.

The Shelby County Assessor of Property has an online calculator you can use to find out your tax rate. Simply enter the value of your property and county name. The calculator will determine both your county and city property tax.