Property tax rate in Memphis: 1.29%. Median home price: $180,000. Calculate your annual bill, compare to state averages, and find exemptions.
Population
633,104
Median Home Price
$180,000
Property Tax Rate
1.29%
Median Income
$41,228
Cost of Living
82/ 100
The effective property tax rate in Memphis, TN is 1.29%. This rate is applied to the assessed value of your property and may differ from the statewide average. On a home valued at $180,000, annual property taxes would be approximately $$180,000 times the rate.
Property taxes in Memphis are based on the assessed value of your home, which may differ from the market value. The local assessor determines your home's value, and the 1.29% rate is applied. Appeals are possible if you believe the assessment is too high.
For a home at the median price of $180,000 in Memphis, property taxes represent a significant annual expense. Combined with mortgage payments, insurance, and maintenance, these costs should be evaluated against the median household income of $41,228.
Many TN jurisdictions offer homestead exemptions, senior exemptions, and other property tax relief programs. Check with your local tax assessor in Memphis for specific programs that could reduce your annual bill.
Use our free calculator with Memphis-specific data already filled in.
Open Memphis CalculatorPlanning a move to Memphis? Cost of living index: 82/100. Median home: $180,000. Median income: $41,228. Get the full relocation breakdown.
Median home price in Memphis: $180,000. Property tax rate: 1.29%. Get mortgage estimates, affordability analysis, and local market insights.
Memphis cost of living index: 82/100 (100 = national avg). Median home $180,000, median income $41,228. See housing, groceries & more.
Median household income in Memphis: $41,228. Cost of living index: 82/100. See how far your salary really goes and compare local job market data.
Should you rent in Memphis? Cost of living index: 82/100. Median income: $41,228. See how much rent you can afford and where to look.
What does commuting cost in Memphis? Population: 633,104. Median income: $41,228. Compare transit, driving, and biking options with real local data.
Median home in Memphis: $180,000. Tax rate: 1.29%. Compare Memphis neighborhoods by price, schools, and lifestyle to find the right fit.