David Saks: David Saks ((retired))

David Saks - Real Estate Broker - The Real Estate Mart of Tennessee, Inc. - 4040 North Watkins-Suite #4 - Memphis, Tennessee 38127 - Phone (901) 357-4663

Property Taxes in Memphis and Shelby County


Property Taxpayers aren't facing a "double whammy"; they're facing a "triple whammy". The mayor's depressing prediction that an increase in the property tax rate next year is "almost inescapable" disregards the fact that 2009 is also a reassessment year for the Shelby County Assessor of Property. Along with the higher property taxes, that this mayor is proposing, comes the additional nauseating burden that property taxpayers will face an artificial increase in values of their property once again, both commercial and residential, increasing the tax liability even more.

From 2002 to 2004, the nation's median price of a single-family home rose from $158,100 to $184,100, according to the National Association of Realtors. That's more than a 16 percent increase. Property assessors went crazy taxing the increased equity.

Property taxes are the most hated state and local tax in the nation and this has more to do with rising home prices and another attempt to unfairly tap the higher equity about to surface in the next reassessment period in Memphis and Shelby County next year.

With property tax you pay more when your home increases in value, regardless of changes to your income or whether you ever realize increased gain when you sell your home. Property tax is based on the assessed value of your home and if you live in a neighborhood with appreciating home prices, your property tax bill is going to go up.

When home values rise many local governments try to reduce the property tax rate. Despite rate reductions the total tax bill will still go up when the subject property is slammed with a higher assessment value by the property assessor. Even if there were no property tax increase passed by the local government, the new assessment period is going to grab homeowners by the seat of the pants with an additional tax burden levied on them.

The assessors office will open the door to county-wide tax appeals next year because of Herenton's imposition of a higher tax rate.  Taxpayers must be more vigilant than ever to ensure that their property is not being valued unfairly.

Soaring property taxes are the number one worry in state legislatures across the country because of the housing crisis, resetting adjustable rate mortgages and declining home values in many parts of the nation. Lawmakers are trying to make peace with angry homeowners, homebuilders, and commercial and residential property developers in every state in America searching for property tax caps, limits, exemptions and other ways to ease the burdens.

The mayor resigned on March 21, 2008. (update: the mayor backed out of the plan to resign) With this, hope for many that the reign of a campaign of predatory ad valorem taxation would have finally ended after seventeen years. It is my hope for the citizens of Memphis and Shelby County that this will place the thought of property tax increases on hold for a long, long time in Memphis and Shelby County. I'll sleep better.

David Saks

Time&Temp Memphis

Legal Disclaimer
Please be advised that:

 The information and notices contained in this blog are intended to summarize recent developments and news. The posts are presented as general research and information. These posts are not intended, nor should be regarded, as legal advice. Some blog posts concern allegations made in civil lawsuits and in criminal indictments in United States Courts. All persons are presumed innocent until convicted of a crime and proven guilty. Readers who have particular questions or who believe that they need legal counsel should seek the advice of a qualified attorney. It is neither the editor's or author's intention to create a confidential relationship or any broker-client relationship via communication from this site at any time. Please consult with your state real estate board if questions & answers in the education section conflict with the laws of your region or if you need clarification regarding their applicability or how they may govern the services that you provide.

By entering this web site, you understand the following:
When you select a link to an outside Web site, you are subject to the privacy, copyright, security, and information quality policies of that Web site. David Saks:
1.DOES NOT control or guarantee the accuracy, legality, relevance, timeliness, or completeness of information contained on a linked Web site;
2.DOES NOT endorse linked Web sites, the views they express, or the products/services they offer unless linked web sites, the views they express, or the products/services they offer endorse or support David Saks in accordance with the standards of the Tennessee Real Estate Commission and the Federal Government's laws regarding commerce and the application, solicitation and transmission of internet-related concerns, commerce or social networking;
3.CANNOT authorize the use of copyrighted materials contained in linked Web sites;
4.IS NOT responsible for transmissions users receive from linked Web sites;
5. That DavidSaks.Com is biographical & real estate related. Some links within will leave this site.
6. http://activerain.com/profile/davidsaks is internet-compliant & abides by the rules & regulations of the Tennessee Real Estate Commission, Eve Maxwell, Executive Director.
7. Unless indicated otherwise, ActiveRain does offer listings, or IDX and is provided for licensed salespersons, brokers, buyers & sellers of real property as a community & professional service.
8. David Saks is a retired / licensed real estate broker in the State of Tennessee, license #290452, and an independent contractor.
9. Information is believed to be accurate, but not guaranteed, at any realty link or document connected to the World Wide Web & viewable by anyone connected to the internet who has a web browser.
10. Brokers, buyers, sellers, agents & anyone should independently verify any information prior to submitting any offer to purchase goods & services from any link.
11. Please Visit The American Real Estate Alliance or Memphis.8k.Com for additional information regarding property issues for real estate professionals and consumers.


Photos © & Licensed by Nova Development

All Content Protected © 
Before you even think about
committing a real estate crime
click this red button.
Real Estate Crimes

© All Rights Reserved.





"Information generated by the Department of Justice is in the public domain and may be reproduced, published or otherwise used without the Department’s permission. Citation to the Department of Justice as the source of the information is appreciated, as appropriate."

Department of Justice Legal Policies


  Real Estate Crimes


Click "HERE" For Today's Question



TheListen Now!

David Saks Show

Saturday Nite

9pm-12am Central

University of Memphis



America's Hobby

Click Elvis

Mr.Saks' participation in ActiveRain ended April 13, 2015.

His blog archives will remain online.

May God bless you.

Comment balloon 15 commentsDavid Saks • March 16 2008 10:18PM
Property Taxes in Memphis and Shelby County
Property Taxpayers aren't facing a "double whammy"; they're facing a "triple whammy". The mayor's depressing prediction that an increase in… more