Memphis, TN Property Tax Rates
Compare property tax rates across 25 ZIP codes in Memphis, Tennessee.
Avg Tax Rate
1.19%
Avg Annual Tax
$2,035
Avg Home Value
$172,856
ZIP Codes
25
Property Tax Overview: Memphis, TN
Memphis has 25 ZIP codes with property tax data. The average effective tax rate across these ZIPs is 1.19%, which is 116% above the Tennessee average of 0.55%. Annual property taxes range from $2,048 (ZIP 38125) to $931 (ZIP 38106).
For a home at Memphis's median value of $172,856, property taxes add approximately $171/month to housing costs. Memphis home values are below the Tennessee median of $223,997, which moderates the overall monthly tax burden.
Property tax rates within Memphis vary by 0.51 percentage points across its ZIP codes. This variation typically reflects different school district boundaries, special assessment zones, and municipal service areas within the city.
ZIP Codes in Memphis, TN
| ZIP Code | Effective Rate | Median Tax | Median Home Value |
|---|---|---|---|
| 38125 | 0.89% | $2,048 | $230,400 |
| 38135 | 0.94% | $2,550 | $270,100 |
| 38112 | 0.98% | $2,018 | $206,900 |
| 38105 | 1.03% | $776 | $75,400 |
| 38108 | 1.04% | $654 | $62,600 |
| 38103 | 1.09% | $4,160 | $380,900 |
| 38133 | 1.10% | $2,578 | $234,800 |
| 38134 | 1.13% | $2,075 | $184,400 |
| 38141 | 1.14% | $1,663 | $146,100 |
| 38128 | 1.14% | $1,416 | $123,900 |
| 38107 | 1.14% | $1,471 | $128,600 |
| 38104 | 1.15% | $3,459 | $301,100 |
| 38114 | 1.17% | $923 | $79,000 |
| 38111 | 1.18% | $1,944 | $165,200 |
| 38116 | 1.23% | $1,544 | $125,800 |
| 38118 | 1.25% | $1,197 | $95,700 |
| 38122 | 1.27% | $1,377 | $108,200 |
| 38115 | 1.28% | $1,654 | $129,700 |
| 38127 | 1.29% | $1,064 | $82,500 |
| 38126 | 1.33% | $783 | $59,000 |
| 38119 | 1.33% | $3,712 | $279,100 |
| 38109 | 1.37% | $1,049 | $76,600 |
| 38120 | 1.38% | $5,826 | $421,500 |
| 38117 | 1.39% | $4,009 | $287,500 |
| 38106 | 1.40% | $931 | $66,400 |
Memphis vs Tennessee Average
Effective Tax Rate
116% above state average
Annual Property Tax
Median Home Value
Frequently Asked Questions
What is the average property tax rate in Memphis, TN?
The average effective property tax rate in Memphis, Tennessee is 1.19%, based on 25 ZIP codes.
How much is property tax in Memphis, TN?
The average median annual property tax in Memphis is $2,035 per year, with a median home value of $172,856.
Which ZIP code in Memphis has the lowest property tax rate?
ZIP code 38125 has the lowest effective tax rate in Memphis at 0.89%, with a median annual tax of $2,048.
How many ZIP codes are in Memphis, TN?
Memphis, Tennessee has 25 ZIP codes with property tax data available.
Which ZIP code in Memphis has the highest property tax rate?
ZIP code 38106 has the highest effective tax rate in Memphis at 1.40%, with a median annual tax of $931.
How do Memphis property taxes compare to the Tennessee average?
Memphis's average effective rate of 1.19% is 116% above the Tennessee state average of 0.55%.
What factors affect property tax rates between ZIP codes in Memphis?
Property tax rate differences within Memphis are typically driven by school district boundaries (which can account for 40–60% of a tax bill), special assessment zones for fire, water, or transit services, and whether a ZIP falls within city limits or an unincorporated area. Each taxing jurisdiction sets its own rate, which is why adjacent ZIP codes can have noticeably different effective rates.
Tips for Memphis Homeowners
- •Appeal your assessment: If your home is assessed higher than its market value, you can file a property tax appeal. Studies suggest 30–60% of properties are over-assessed. Most counties offer a free informal review process.
- •Check your exemptions: Homestead exemptions can reduce your taxable value and are available to primary residents in most states. Senior, veteran, and disability exemptions may also apply. Exemptions must typically be applied for — they are not automatic.
- •Know your assessment cycle: Tennessee reassesses properties periodically. After buying a home, your next tax bill may reflect a new assessment based on your purchase price. Budget accordingly, especially if you bought above prior assessed values.
- •Compare ZIP codes before buying: Even within Memphis, effective tax rates can vary significantly across ZIP codes due to different school district overlays. Use PropertyTaxByZip to compare specific ZIPs before choosing a neighborhood.
Looking for county-level property tax data? View Shelby County on TaxByCounty.com
Data from U.S. Census Bureau, American Community Survey 2019-2023 5-Year Estimates (ZCTA level). ZIP Code Tabulation Areas (ZCTAs) are Census approximations of USPS ZIP codes.
Estimates are informational only and should not be used as financial or legal advice.