LOCAL TAXES & TAX RATES (Property Tax per $1001)

Shelby County $4.052

City of Memphis $7.24

www.shelbycountytn.gov

www.memphistn.gov

City of Bartlett $5.88

City of Germantown $6.00

www.cityofbartlett.org

www.germantown-tn.gov

City of MIllington $5.58

Town of Collierville $5.88

www.millingtontn.gov

www.collierville.com

City of Lakeland $5.30

Town of Arlington $5.20

www.lakelandtn.gov

www.townofarlington.org

STATE TAXES

Individual Income Tax

$0

Tennessee Property Tax

$0

Sales Tax

9.25%

10

GREATER MEMPHIS RELOCATION GUIDE

LABOR & COST OF LIVING

Without a doubt, Tennessee is a great state for business. With an unemployment rate of 3.2 percent (as of February 2019, the national unemployment rate was 3.8 percent), Tennessee boasts one of the country’s best climates for business. Memphis, too has seen significant job growth in the past several years. In fact, Memphis was a top three US metro market for job creation in January of 2019 compared to their average 10-year employment rate, according to Bloomberg analysis of Bureau of Labor Statistics data. The world has taken notice of the momentum underway in Memphis with companies announcing expansions and relocations including Indigo Ag, FedEx Logistics, ServiceMaster, St. Jude Children’s Research Hospital and AutoZone to name a few. In addition to a strong business climate, Millennials are flocking to the Bluff City and they are putting down roots. With one of the southeast’s youngest populations, Memphis has become a destination for the next generations of talent interested in making its mark.