Memphis looks at seven areas for de-annexation

Most Popular Reply

Alex CraigBusiness Member
Real Estate Professional · Memphis, TN · Member since 2009 · 1k+ posts · 1k+ votes
9y

@Jay Hinrichs for investors it is good. For individuals that own homes, it is good. Is it going to be some sort of game changer for the area, no.  Cordova was the hot area during the housing boom and probably crashed the worst with many home owners being upside down. When hedge funds came in, they pushed the values up.  Basically Cordova is a nice working class area of Memphis where income is going to be higher then areas such as 38141, 38128, 38116, etc.  I think this area will be flat for several years, but still be a good area to get a lot of sq ft cheap and be in a safe area for homeowners. One can get a 2,200 sq ft home for $140,0000. a 2,200 sq ft home in East Memphis /Midtown would cost 250k.  In other words, a solid middle class neighborhood. 

901-848-9028
3Reply
See this reply in the discussion

7 Replies

Jump to latestLatest
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    9y

    does that mean that double taxation would end... ?

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Daniel Weaver
    Accountant · Memphis, TN · Member since 2016 · 45 posts · 39 votes
    9y

    Yes - a good consideration to be sure, though still very early in the consideration process. As @Jay Hinrichs points out, this would end double-taxation, since county homeowners only pay property taxes to Shelby county rather than also paying Memphis city taxes. Probably a net benefit for any areas that choose to de-annex themselves.

    1Reply
  • Alex CraigBusiness Member
    Real Estate Professional · Memphis, TN · Member since 2009 · 1k+ posts · 1k+ votes
    9y

    This will take years to complete, but certainly something to take into consideration when purchasing a property. 

    901-848-9028
    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    9y

    @Alex Craig  good for the area or bad for the area ?? whats your thought...

    in our area of PDX you have cities fighting to annex in county... they want the tax base.

    well maybe because  Nike world headquarters campus happened to be their target LOL

    Podcast Guest on Show #222
    JLH Capital Partners51 Review
    WebsiteView Page
    0Reply
  • Alex CraigBusiness Member
    Real Estate Professional · Memphis, TN · Member since 2009 · 1k+ posts · 1k+ votes
    9y

    @Jay Hinrichs for investors it is good. For individuals that own homes, it is good. Is it going to be some sort of game changer for the area, no.  Cordova was the hot area during the housing boom and probably crashed the worst with many home owners being upside down. When hedge funds came in, they pushed the values up.  Basically Cordova is a nice working class area of Memphis where income is going to be higher then areas such as 38141, 38128, 38116, etc.  I think this area will be flat for several years, but still be a good area to get a lot of sq ft cheap and be in a safe area for homeowners. One can get a 2,200 sq ft home for $140,0000. a 2,200 sq ft home in East Memphis /Midtown would cost 250k.  In other words, a solid middle class neighborhood. 

    901-848-9028
    3Reply
  • Elizabeth Wilson
    OP
    Real Estate Investor · Memphis, TN · Member since 2016 · 940 posts · 695 votes
    9y

    I wonder if I can convince them to let me annex my properties!! :)  I can find lots of ways to spend those tax dollars! 

    0Reply
  • JR M.
    Investor · SC · Member since 2016 · 89 posts · 35 votes
    9y
    Really interesting across any area. In my observation, governance tends to be best in the smallest "willing" locales, so any effort to move in that direction is interesting.
    2Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free