As the deadline approaches for payment of our property tax bills, these are the amounts of Shelby County taxes given away by each board to corporation and developers.
Waived Shelby County Taxes
$15,800,000 – EDGE
$11,800,000 – Downtown Memphis Commission
$ 7,000.000 – Memphis Health, Educational & Housing Facility Board
$ 1,200,000 – Collierville Industrial Development Board
$ 1,100,000 – Shelby County Health, Educational & Housing Facility Board
$ 946,000 – Germantown Industrial Development Board
$ 355,000 – Miscellaneous
$ 334,000 – Millington Industrial Development Board
$ 250,000 – Bartlett Industrial Development Board
$ 219,000 – Arlington Industrial Development Board
$ 131,000 – City/County Government Contracts
$39,200,000 – TOTAL COUNTY TAXES WAIVED IN JANUARY, 2022
These are the amounts of Shelby County taxes only given away by each board. This list is published by the Shelby County Trustee.
City of Memphis does not publish a similar list, so for a ballpark approximation of waived city taxes, multiply Downtown Memphis Commission, EDGE, and Memphis Health, Educational Facility Board by 78% (city property tax rate is 78% of the county tax rate). The answer is $26,900,000 in waived city taxes.
The cumulative total of Memphis and Shelby County taxes given away in a year to corporations and developers is approximately $61,500,000.