Memphis : State Data and Comparisons : Data-Z

Memphis, TN

TIA Data

2022 Financial State of Memphis (Released 2/15/2024)

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Memphis owes more than it owns.

Memphis' Taxpayer Burden™ is -$4,000, and it received a "C" from TIA.

Memphis is a Sinkhole City without enough assets to cover its debt.

Decisions by elected officials have created a Taxpayer Burden™, which is each taxpayer's share of city bills after its available assets have been tapped.

TIA's Taxpayer Burden™ measurement incorporates all assets and liabilities, including retirement obligations.

Memphis only has $2.8 billion of assets available to pay bills totaling $3.5 billion.

Because Memphis doesn't have enough money to pay its bills, it has a -$777.2 million financial hole. To erase this shortfall, each Memphis taxpayer would have to send -$4,000 to the city.

Memphis's reported net position is understated by $660 million, largely because the city defers recognizing gains resulting from decreases in retirement liabilities.

The city's financial report was released 243 days after its fiscal year end, which is considered untimely according to the 180 day standard.

Prior Years' TIA Data

2021 Financial State of Memphis

2020 Financial State of Memphis

2019 Financial State of Memphis

2018 Financial State of Memphis

2017 Financial State of Memphis

2016 Financial State of Memphis

2015 Financial State of Memphis

Other Resources

Memphis Annual Comprehensive Financial Reports

Publishing Entity: City of Memphis