Memphis Property Tax Calculator
In Memphis, Florida, the median property tax bill is $1,824 a year on a home worth around $292,200 — an effective rate of 0.62% of value. That is the 78th lowest rate of the 476 Florida cities with Census data (state average 0.78%). On a $350,000 home that works out to about $2,170/year ($181/month in escrow). Enter your home value below.
$3,850 / year
$320.83/month in escrow · effective rate 1.10% of value
Effective rates are state averages (Tax Foundation / Census ACS). Your local rate, assessment ratio and exemptions vary by county — adjust the rate for an exact bill. How we calculate →
Memphis property tax rate vs the rest of Florida
Memphis has an effective property tax rate of 0.62% — its median real-estate tax bill ($1,824) as a share of its median home value ($292,200). That is below Florida's 0.78% state average, and ranks the 78th lowest of the 476 Florida cities we track.
Your bill is set by overlapping local taxing bodies — the city, the county, and the school district — so the same home value in a neighbouring town can owe a very different amount. The calculator above starts from Memphis's 0.62% effective rate; adjust it to your exact parcel or add a homestead exemption for a closer estimate.
Property tax by home value in Memphis
Estimated annual Memphis property tax at its 0.62% effective rate:
$250,000 home → $1,550/yr · $350,000 home → $2,170/yr · $500,000 home → $3,100/yr.
Divide by 12 for the monthly escrow your mortgage servicer collects — about $181/month on a $350,000 home. These figures use the city effective rate; your exact local rate and any exemptions change the final bill.
How affordable is property tax in Memphis?
The typical Memphis homeowner pays about $1,824 in property tax against a median household income of $71,967 — roughly 2.5% of income a year. That ratio is a quick way to weigh the real burden of property tax, since a modest rate on an expensive home can still be a large dollar bill.
How Memphis property tax is calculated
Your assessor sets Memphis's assessed value, and local millage rates from the city, county and school district are applied to it; the 0.62% effective rate rolls all of that into one share of market value. To estimate your tax, multiply your home value by 0.62% (or your exact local rate), then subtract any homestead or senior exemption you qualify for. The calculator above does this and shows both the annual bill and the monthly escrow amount.
Memphis property tax — frequently asked questions
What is the property tax rate in Memphis, Florida?
Memphis's effective property tax rate is 0.62% of home value in 2026 — its median $1,824 bill on a median $292,200 home. That is the 78th lowest of the 476 Florida cities we track, where the state average is 0.78%.
How much is property tax on a $350,000 home in Memphis?
At Memphis's 0.62% effective rate, a $350,000 home owes about $2,170 a year — roughly $181 a month through escrow. Your exact parcel and any exemptions can move this up or down.
Is property tax high in Memphis?
Memphis ranks the 78th lowest of the 476 Florida cities by effective rate (0.62% vs the 0.78% state average), so it is on the lower side for Florida. The median bill is $1,824 a year.
What is the median property tax in Memphis?
The median Memphis homeowner pays about $1,824 a year, on a median home value of around $292,200 — an effective rate near 0.62% (US Census ACS).
How is Memphis property tax calculated?
Multiply your home's value by Memphis's effective rate (0.62%, or your exact local millage), then subtract any homestead exemption. The assessor sets the assessed value and local bodies set the rates; the calculator above estimates the annual and monthly amounts.
Compare nearby cities in Florida
See all 476 Florida cities ranked by property tax rate, or compare:
Researched & verified by the Calcuris Data & Research Team. How we build and check our tools →