Collierville, Shelby County, Tennessee Property Taxes
Median Collierville, TN effective property tax rate: 1.31%, significantly higher than the national median of 1.02%, but lower than the Tennessee state median of 0.64%. Median Collierville, TN home value: $370,000. Median annual Collierville, TN tax bill: $4,830, $2,430 higher than the national median property tax bill of $2,400.
How are property taxes in Shelby County calculated?
Property taxes in Collierville, TN 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 March 1, 2025
Collierville, Shelby County, Tennessee Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
1.31%
Estimate Property Tax Bill
$4,847
$4,498
Property Tax Rates Across Collierville, Shelby County, Tennessee
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
1.31%
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 Shelby County Tax Rate
1.52%
Median Effective Tennessee Tax Rate
0.64%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Collierville, Shelby County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38017 | 1.31% | 1.31% | 1.31% | 1.31% | 1.31% |
Source: Ownwell
Property Tax Assessment Values Across Collierville, Shelby County, Tennessee
When examining property taxes in Collierville, TN, 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 Shelby County Assessor's Office 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.
In Shelby 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 $370,000, with tax bills ranging significantly across the county. Zip code 38017 has the highest median home price at $370,000.
Property Tax Assessment Values Across Collierville, Shelby County, Tennessee
Source: Ownwell
$34,300
$261,525
$488,750
Median Collierville Market Value
$370,000
Median Shelby County Market Value
$147,100
Median Tennessee Market Value
$173,500
Median United States Market Value
$235,294
Property Tax Assessment Values Across Collierville, Shelby County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38017 | $229,540 | $294,600 | $370,000 | $472,700 | $590,300 |
Source: Ownwell
Property Tax Bills Across Collierville, Shelby County, Tennessee
In Collierville, property tax bills are determined by assessing the market value of a home and applying the local tax rate. Shelby County, where Collierville is located, calculates property taxes by taking the assessed value, which is a percentage of the market value, and applying the local tax rate. Homeowners in Collierville experience a median property tax bill of $4,830, which is significantly higher than the national median of $2,400. This higher tax bill is influenced by the median home price in the area, which stands at $370,000. For homeowners, these taxes can represent a substantial annual expense, affecting their overall financial planning.
Ownwell assists homeowners in reducing their property tax bills by providing expert property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies, Ownwell can help ensure that homeowners are not overpaying. This can lead to significant savings, making homeownership in Collierville more affordable. With Ownwell’s expertise, homeowners can navigate the complexities of property tax assessments and secure the best possible outcome.
Median Collierville Tax Bill
$4,830
Median Shelby County Tax Bill
$1,907
Median Tennessee Tax Bill
$1,206
Median United States Tax Bill
$2,400
Property Tax Bills Across Collierville, Shelby County, Tennessee
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 38017 | $3,024 | $3,870 | $4,830 | $6,119 | $7,642 |
Source: Ownwell