Collierville, Fayette County, Tennessee Property Taxes
Property Taxes in Collierville, Tennessee
Median Collierville, Tennessee effective property tax rate: 0.32%, significantly lower than the national median of 1.02%, and lower than the Tennessee state median of 0.54%.
Median Collierville, Tennessee home value: $157,200
Median annual Collierville, Tennessee tax bill: $458, $1,942 lower than the national median property tax bill of $2,400.
How are property taxes in Fayette calculated?
Property taxes in Collierville, Tennessee are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Collierville's property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Collierville, knowing local tax details benefits homeowners and investors.
Last Updated April 13, 2026
Collierville, Fayette County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.32%
Estimate Property Tax Bill
$503
$467
How Does the Collierville Property Tax Calculator Work?
Use this Collierville property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Collierville's median effective tax rate of 0.32% — based on actual property records in Fayette County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Collierville's median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Collierville: rates range from 0.32% in 38017 to 0.32% in 38017, primarily due to differences in school district levies and local assessment districts.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Collierville.
About Collierville Property Taxes
About Property Taxes in Collierville, Fayette, Tennessee
Collierville's median effective property tax rate of 0.32% is lower than the Tennessee state median of 0.54% and lower than the national median of 1.02%. This rate reflects the Fayette County base levy combined with local school district levies and special assessment districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Collierville. Homeowners in the 38017 ZIP code carry a median effective rate of 0.32%, while those in 38017 pay 0.32%. This spread — 0.00 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Fayette County. Understanding which part of Collierville you live in can make a meaningful difference to your annual tax bill.
Collierville homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the May 31, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Collierville, Fayette County, Tennessee
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Collierville's effective property tax rate to other cities in Tennessee and the median property tax rates in Tennessee and the U.S.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Collierville Tax Rate
0.32%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Fayette County Tax Rate
0.32%
Median Effective Tennessee Tax Rate
0.54%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Collierville, Fayette County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38017 | 0.23% | 0.32% | 0.32% | 0.32% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Collierville, Fayette County, Tennessee
When examining property taxes in Collierville, Tennessee, understanding the distinction between "market value" and "assessed value" is crucial.
The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Fayette County appraisal district estimates the market value for tax purposes.
The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
Assessment notices:
In Fayette County, assessment notices are sent in the spring each year. They'll typically reach your mailbox by the middle of April.
Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Collierville.
For example, the median home price in Collierville is $157,200, with tax bills ranging significantly across the county. 38017 has the highest median home price at $157,200.
Property Tax Assessment Values Across Collierville, Fayette County, Tennessee
Source: Ownwell
$52,300
$250,625
$448,950
Median Collierville Market Value
$157,200
Median Fayette County Market Value
$169,900
Median Tennessee Market Value
$213,900
Median United States Market Value
$235,294
Property Tax Assessment Values Across Collierville, Fayette County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38017 | $27,000 | $53,200 | $157,200 | $366,400 | $534,340 |
Source: Ownwell
Property Tax Bills Across Collierville, Fayette County, Tennessee
Property tax bills in Collierville are calculated from the assessed value of a home and the local tax rate set by the county and other taxing authorities. When a property’s market value changes, the assessed value can change too, which affects the final bill homeowners receive.
For Collierville homeowners, the median home price is $157,200, and the median property tax bill is $458 in ZIP code 38017. That amount can vary widely depending on a home’s value and the tax rate applied. Bills at the 25th percentile are $180, while the 75th percentile reaches $1,077 and the 90th percentile climbs to $1,663.
These taxes help fund local services, but they also add to the cost of owning a home. Because the bill is tied to assessed value, homeowners with higher-valued properties often pay more, while lower-valued homes usually face smaller bills.
Median Collierville Tax Bill
$458
Median Fayette County Tax Bill
$575
Median Tennessee Tax Bill
$1,126
Median United States Tax Bill
$2,400
Property Tax Bills Across Collierville, Fayette County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38017 | $101 | $180 | $458 | $1,077 | $1,663 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | May 31 |
Links | |
|---|---|
| Fayette Tax Assessor | |
| Website | assessment.cot.tn.gov |