Thompsonville, Grand Traverse County, Michigan Property Taxes
Median Thompsonville, MI effective property tax rate: 0.33%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Thompsonville, MI home value: $235,344
Median annual Thompsonville, MI tax bill: $754, $1,646 lower than the national median property tax bill of $2,400.
How are property taxes in Grand Traverse calculated?
Property taxes in Thompsonville, MI are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Thompsonville’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Thompsonville, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Thompsonville, Grand Traverse County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.78%
Estimate Property Tax Bill
$2,239
$2,077
Property Tax Rates Across Thompsonville, Grand Traverse County, Michigan
Local government entities determine tax rates, which can significantly differ within a state. This variation arises because each county, including Grand Traverse, annually estimates the budget required to provide essential services. They then divide this budget by the total assessed value of all taxable properties within their jurisdiction, resulting in the property tax rate. Although votes and legislation play a role in finalizing these rates and budgets, this is the core of the annual process.
Thompsonville's effective property tax rate provides an interesting comparison to other cities across Michigan. The median property tax rate in Michigan stands at 0.33%, which is noticeably lower than the national median of 1.02%. This means that property owners in Thompsonville may find themselves paying less in property taxes compared to many other parts of the country. However, it's essential for property owners to stay informed and consider appealing their property assessments if they believe the valuation is incorrect, as this can significantly impact their tax bills. Understanding these local variations and being proactive can lead to substantial savings on property taxes.
Property Tax Rates Across Thompsonville, Grand Traverse County, Michigan
Source: Ownwell
0.70%
0.84%
0.98%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Thompsonville Tax Rate
0.78%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Grand Traverse County Tax Rate
0.85%
Median Effective Michigan Tax Rate
1.05%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Thompsonville, Grand Traverse County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49683 | 0.52% | 0.64% | 0.78% | 1.03% | 1.30% |
Source: Ownwell
Property Tax Assessment Values Across Thompsonville, Grand Traverse County, Michigan
When examining property taxes in Thompsonville, MI, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Grand Traverse County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Grand Traverse County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Thompsonville.
For example, the median home price in Thompsonville is $235,344, with tax bills ranging significantly across the county. Zip code 49683 has the highest median home price at $235,344.
Property Tax Assessment Values Across Thompsonville, Grand Traverse County, Michigan
Source: Ownwell
$240,804
$337,478
$434,152
Median Thompsonville Market Value
$287,009
Median Grand Traverse County Market Value
$367,223
Median Michigan Market Value
$213,740
Median United States Market Value
$235,294
Property Tax Assessment Values Across Thompsonville, Grand Traverse County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49683 | $59,803 | $141,224 | $287,009 | $424,273 | $715,576 |
Source: Ownwell
Property Tax Bills Across Thompsonville, Grand Traverse County, Michigan
Property Tax Bills Across Thompsonville, Grand Traverse County, Michigan
Source: Ownwell
$1,846
$3,044
$4,241
Median Thompsonville Tax Bill
$2,095
Median Grand Traverse County Tax Bill
$3,281
Median Michigan Tax Bill
$2,084
Median United States Tax Bill
$2,400
Property Tax Bills Across Thompsonville, Grand Traverse County, Michigan
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 49683 | $609 | $1,159 | $2,095 | $3,214 | $4,445 |
Source: Ownwell