38109 Property Tax Rate

Property owners in ZIP code 38109 (Memphis, Tennessee) pay a median of $1,049/year in property taxes on homes valued at $76,600. This translates to an effective tax rate of 1.37%, which is 150% above the Tennessee state average of 0.55%.

The monthly property tax burden for a median-valued home in 38109 is approximately $87, which factors into escrow payments on mortgages. This ZIP code is located within Shelby County.

Compared to similar ZIP codes in Tennessee, 38109 has lower property taxes. ZIP codes with similar effective rates include 38120 (1.38%) and 38117 (1.39%).

In Memphis, property taxes represent approximately 2.8% of the median household income of $36,934, providing context for the relative tax burden on homeowners in this area.

If you're considering purchasing a home in 38109, keep in mind that property taxes are based on the assessed value assigned by the local assessor, which may differ from the purchase price. In some states, properties are reassessed at or near the sale price upon transfer of ownership. For the most current tax information for a specific property, consult Shelby County's tax assessor directly.