Total Tax Burden in Memphis, TN
Living in Memphis with the median household income of $41,864, your estimated total tax burden — including federal income tax, FICA, property tax, and sales tax — is approximately $11,478, an effective rate of 27.4%.
Federal Income Tax (est.)
$4,186
10.0% of income
FICA (SS + Medicare)
$3,203
7.6% of income
Property Tax
$2,660
1.52% effective rate
Sales Tax (est.)
$1,429
9.75% rate
Total Estimated Tax Burden
$11,478
Effective Rate
27.4%
Based on median income of $41,864, median home price of $175,000, and estimated taxable spending of $14,652. Actual taxes vary by individual circumstances. Use our calculators for a personalized estimate.
Tax Details for Memphis
Memphis residents face a combined local sales tax rate of 9.75%. This is one of the higher combined rates in the country, factoring in both state and local taxes.
Property taxes on the median-priced home of $175,000 would cost approximately $2,660 per year, or $222/month. The effective rate of 1.52% is close to the national median.
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These estimates are based on median values. Use our Total Tax Burden Calculator for a breakdown based on your actual income, home value, and spending.
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