Information Hub

Learn more about local government budgets and property taxes in Memphis and Shelby County.

Understanding Local Government Finance

Budget Basics

Local government budgets are financial plans that outline expected revenues and planned expenditures for a fiscal year (July 1 - June 30). The budget process typically includes:

  • Department requests and needs assessment
  • Mayor's proposed budget
  • Public hearings
  • City Council/County Commission deliberation and amendments
  • Final budget approval (usually by June 30)

Revenue Sources

Memphis and Shelby County governments receive funding from multiple sources:

  • Property Taxes: The largest source of local revenue
  • Sales Taxes: Collected on retail sales
  • State & Federal Funding: Grants and shared revenues
  • Fees & Fines: Includes service fees, permits, etc.
  • PILOTs: Payments In Lieu Of Taxes from economic development incentives

Property Tax System

Property taxes are calculated based on:

  • Market Value: The estimated worth of a property
  • Assessment Ratio: 25% for residential, 40% for commercial properties
  • Tax Rate: Amount charged per $100 of assessed value

Properties are reassessed every four years, with the next reassessment scheduled for 2025.

Common Questions

Property taxes can change due to: (1) reassessment of your property's value, (2) changes in the tax rate, or (3) loss of exemptions or relief programs. During reassessment years, the tax rate is "recertified" to prevent automatic tax increases, but individual properties may still see increases if their value rises more than the county average.

If you believe your property is overvalued, you can appeal to the Shelby County Board of Equalization during the appeal period (typically April-May after a reassessment). You'll need to provide evidence such as recent comparable sales or a private appraisal. If still unsatisfied, you can further appeal to the state board.

Shelby County offers property tax relief for elderly (65+) homeowners, disabled homeowners, and disabled veterans based on income eligibility. The Tax Freeze program also allows qualifying elderly homeowners to "freeze" their tax amount at the level when they qualified. Contact the Shelby County Trustee's Office at (901) 222-0200 for more information.
Resources
Budget Documents
Property Tax Information
Community Organizations
Need Help?

If you have questions about your property taxes or need assistance:

  • Assessor's Office: (901) 222-7001
  • Trustee's Office: (901) 222-0200
  • Tax Relief: (901) 222-0208

For budget advocacy or to get involved with the Moral Budget Coalition, contact us through our About page.