38138 Property Tax Rate

Property owners in ZIP code 38138 (Germantown, Tennessee) pay a median of $4,340/year in property taxes on homes valued at $393,600. This translates to an effective tax rate of 1.10%, which is 101% above the Tennessee state average of 0.55%.

The monthly property tax burden for a median-valued home in 38138 is approximately $362, which factors into escrow payments on mortgages. This ZIP code is located within Shelby County. This is $3,134 more than the Tennessee average of $1,206/year.

Compared to similar ZIP codes in Tennessee, 38138 has higher property taxes. ZIP codes with similar effective rates include 38133 (1.10%) and 38103 (1.09%).

In Germantown, property taxes represent approximately 3.3% of the median household income of $130,125, providing context for the relative tax burden on homeowners in this area.

Tennessee has no statewide property tax cap—your property will be reassessed at market value annually, and the Shelby County Assessor will establish a new assessment at purchase. Shelby County offers a $25,000 homestead exemption for primary residences, reducing your assessed value by that amount; file the application with the Shelby County Assessor's office immediately after closing. Contact the Shelby County Assessor at (901) 222-0790 to confirm your homestead filing deadline and request a copy of your assessment notice to verify accuracy.