Memphis area with no city tax

9 Replies

What are some of the best rental markets in the Memphis area with no city tax? I know Cordova has no city tax but heard it could be hard to rent due to hedge funds turning too many houses into rentals? Also, Millington? Is that a good area? I'm only interested in B properties and for my next purchase I'd like to avoid city taxes since that can really kill the cashflow! Please fill me in!! :)

millington is decent with purchase prices under $100k. Cordova is better but will be over $100k.   Some areas of Raleigh and Raleigh bartlett area, close to $100k.  Southeast Memphis in the 38125 and 38141 areas are pretty good. 

Curt, you seem to be up getting work done late at night like me.  No time for sleep! Haha

I didn't realize Raleigh and parts of south east Memphis had no city tax. Is there a map or list of zip codes that I can refer to that'll show whether or not there's city tax in an area?

Hi, @David Hodge .

See the map located here.

https://upload.wikimedia.org/wikipedia/commons/thu...

You can also find it at the bottom this wikipedia page.

https://en.wikipedia.org/wiki/Shelby_County,_Tenne...

Just to be clear, Bartlett, Millington, Collierville, etc. have their own city taxes, in addition to the Shelby Co. taxes, but the tax rates are significantly less than the City of Memphis rates.

That said, as @Curt Davis mentioned, there are several areas in Shelby Co. where properties only owe County taxes (see the white areas on the map above).

Hope that helps.

Originally posted by @David Hodge :

What are some of the best rental markets in the Memphis area with no city tax? I know Cordova has no city tax but heard it could be hard to rent due to hedge funds turning too many houses into rentals? Also, Millington? Is that a good area? I'm only interested in B properties and for my next purchase I'd like to avoid city taxes since that can really kill the cashflow! Please fill me in!! :)

I sold a ton of properties to those hedge funds and they drove the price up on "1st time home buyer homes"

Now they have slowed down but they left a mark. Millington can be good... I have a few homes in Brighton, TN and Munford, TN - also in Tipton county.

Check out the 38125 zip code... I buy, sell and build homes in that zip. (county only taxes)

email or call me, I'd be happy to help!

Jw

Thank you all for the replies!  I'll be looking into the areas mentioned.  @Douglas Skipworth thanks for the map!  

What are the negatives to some of these areas?  If demand and price in these areas are similar to what you can find inside Memphis then arent you better off only looking in areas with no Memphis tax?  I know there are more factors at play than just tax but in general it seems like a real benefit to stay outside Memphis and thereby reduce property taxes by about half. I imagine there might be more competition in these areas and therefore higher prices?