Status Symbol 

John Branston

A million bucks ain't what it used to be. And a million-dollar home isn't either.

Five years ago, Memphis magazine did a gee-whiz story on million-dollar homes, finding 30 or so of them in Shelby County by consulting various public and private sources.

According to the official 2005 Shelby County property reappraisal, there are now 649 homes valued at $1 million or more in Shelby County, from blufftop mansions overlooking the river to rustic estates in Germantown and Collierville to zero-lot-line homes in East Memphis.

Assessor Rita Clark says the increase is partly due to inflation and an increase in wealth and partly due to her staff's concentration on so-called high-end properties, which used to be so unusual that they didn't merit special attention.

The property taxes on a $1 million home in Memphis? About $18,000. n

Million-Dollar Baby: Can you guess which one of these Midtown homes is appraised at more than $1 million?

Appraised values below.

1: $597,000 2: $871,800 3: $1,075,300 4: $644,100

Comments

Subscribe to this thread:

Add a comment

ADVERTISEMENT
ADVERTISEMENT
    • Hate Speech

      Rhodes student pens ‘hate-filled’ opinion piece on alt-right site.
    • Fun Money

      Locals, tourists invest in good times here.

Blogs

Tiger Blue

Three Thoughts on Tiger Football

News Blog

Layoffs Again Hit Commercial Appeal Newsroom

Hungry Memphis

The Return of BreakFest

Fly On The Wall Blog

Murder Owl Wins First FOTW Spirit Animal Poll

News Blog

State to Reinstate Work Requirement for Food Stamps

Film/TV/Etc. Blog

Music Video Monday: Julien Baker

ADVERTISEMENT

Readers also liked…

ADVERTISEMENT
© 1996-2017

Contemporary Media
460 Tennessee Street, 2nd Floor | Memphis, TN 38103
Visit our other sites: Memphis Magazine | Memphis Parent | Inside Memphis Business
Powered by Foundation