As the cost of living rises across Shelby County, Lakeland still holds the distinction of having the lowest property tax rate among municipalities in the county, a status maintained through careful fiscal management and strategic investments.
The city’s property tax history tells a unique story of responsible governance. In 2012, Lakeland introduced its first property tax at $0.85 per $100 of assessed value—a rate that could have been more gradually introduced in the 1990s but instead became necessary due to financial shortfalls and the new Lakeland School System. By 2015, the need for a middle school led to a tax increase, but in the years that followed, reductions were made. The construction of Lakeland Prep High School, funded through a USDA loan, allowed the Board of Commissioners to prevent further tax hikes. In 2023, an increase was implemented to fund the purchase and demolition of two motels, The Relax Inn and The Econo Lodge, an initiative aimed at enhancing public safety and future development.
Lakeland Property Tax Rate History:
| Year | Fiscal Year Funded | Rate ($ per $100 Assessed Value) |
|---|---|---|
| 2024 | 2024-2025 | $1.19 |
| 2023 | 2023-2024 | $1.19 |
| 2022 | 2022-2023 | $1.04 |
| 2021 | 2021-2022 | $1.04 |
| 2020 | 2020-2021 | $1.24 |
| 2019 | 2019-2020 | $1.24 |
| 2018 | 2018-2019 | $1.25 |
| 2017 | 2017-2018 | $1.25 |
| 2016 | 2016-2017 | $1.40 |
| 2015 | 2015-2016 | $1.40 |
| 2014 | 2014-2015 | $0.85 |
| 2013 | 2013-2014 | $0.85 |
| 2012 | 2012-2013 | $0.85 |
How Lakeland Compares to Other Shelby County Cities
When compared to other municipalities, Lakeland’s property tax rate remains significantly lower. In 2025, Bartlett’s tax rate stands at $1.73, Collierville at $1.84, Arlington at $1.28, Germantown at $1.83, Millington at $1.40, Memphis at $3.19, and the Shelby County tax rate is $3.39.
In a time when many cities are facing financial strain, Lakeland’s commitment to fiscal responsibility and smart investments has allowed it to keep property taxes at a manageable level while still funding projects. This strategy not only makes Lakeland an attractive place to live but also ensures that the city remains on stable financial footing for the future.
