How are assessment values calculated?

Property Classification:Assessment Percentage:
Residential25%
Farm25%
Commercial40%
Industrial40%
Utility55%
Exempt0%
Personal Property30%

An assessment is a percentage of the appraisal. The percentage is determined by property classification

Here's how it works...

In Tennessee, residential property is assessed at 25% of the appraised value. So if a house is appraised at $100,000, the assessment will be $25,000. However, if a business property is appraised at $100,000, the assessment will be $40,000 because the property is assessed at 40% of the appraised value.

The assessment value is then used to calculate property taxes. Try the Property Tax Calculator to see how assessment value affects property taxes.

County Property Taxes
The Shelby County Trustee sends tax bills and collects taxes for Shelby County Government according to the following schedule:

September
County tax bills are mailed.

October
County tax bills are payable on the first Monday in October.

March
County tax bills are delinquent the following March 1.

The Shelby County Trustee collects all taxes for the cities of Lakeland and Millington, and also collects delinquent taxes for the cities of Memphis, Bartlett, and Collierville, Tennessee.

City of Memphis Property Taxes
The City of Memphis mails out property tax bills in June, and taxes become delinquent as of September 1.

Area Municipalities
The City of Arlington mails out property tax bills in December, and taxes become delinquent as of March 1.

The Cities of Bartlett, Collierville and Germantown mail out property tax bills in November, and taxes become delinquent as of March 1.

The City of Millington mails out property tax bills in October, and taxes become delinquent as of March 1.

The City of Lakeland coordinates with the Shelby County Trustee for mailing of their tax bills, which have the same due date and delinquency schedule as County taxes.

Lakeland property taxes may be paid by credit card or check at a kiosk conveniently located inside Lakeland City Hall, or payments may be made online or at the Trustee’s Office’s payment locations.