Traverse City, Grand Traverse County, Michigan Property Taxes

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Property Taxes in Traverse City, Michigan

Median Traverse City, MI effective property tax rate: 0.77%, significantly lower than the national median of 1.02%, but lower than the Michigan state median of 1.07%.
Median Traverse City, MI home value: $304,155
Median annual Traverse City, MI tax bill: $2,518, $118 higher than the national median property tax bill of $2,400.

How are property taxes in Grand Traverse calculated?

Property taxes in Traverse City, 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 Traverse City’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Traverse City, knowing local tax details benefits homeowners and investors.

Last Updated March 1, 2025

Traverse City, Grand Traverse County, Michigan Property Tax Bill Calculator

Property Assessed Value

$100,000

$1,500,000

$3,000,000

Median Effective Tax Rate

0.89%

Estimate Property Tax Bill

$3,438

$3,190

Ownwell’s Traverse City Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Traverse City with just two data points. By entering your property's estimated assessed value, our calculator applies Traverse City’s median effective tax rate to accurately estimate your property tax bill. Note that your property's assessed value — determined by your county — reflects any exemptions you may have, ensuring a precise calculation for your property tax obligations. This insightful tool helps you understand potential tax liabilities and highlights how Ownwell can assist in reducing property taxes in Grand Traverse County. For those interested in more localized information, please scroll down to explore city-level trends!

Property Tax Rates Across Traverse City, Grand Traverse County, Michigan

Local government entities are responsible for setting tax rates, which can vary significantly within Michigan. Each year, Grand Traverse County estimates its budget needs for essential services and divides this by the total value of all taxable properties in the area, resulting in the property tax rate. Although votes and laws play a role in determining tax rates and budgets, this is the fundamental process. Traverse City’s effective property tax rate offers an interesting comparison to other cities in Michigan, as well as to state and national medians. Michigan's median property tax rate stands at 0.77%, which is below the national median of 1.02%. Within Traverse City, the highest median tax rate is 0.91% in the 49684 zip code, while the lowest is 0.68% in the 49685 zip code. These variations highlight the importance of understanding local tax rates and their impact on property owners. For those seeking to optimize their property tax obligations, this localized approach to assessing rates can provide valuable insights.

Property Tax Rates Across Traverse City, 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 Traverse City Tax Rate

0.89%

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 Traverse City, Grand Traverse County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Rate	75th Percentile	90th Percentile
49684	0.64%	0.77%	0.98%	1.37%	1.92%
49685	0.58%	0.68%	0.81%	1.03%	1.34%
49686	0.59%	0.73%	0.94%	1.31%	1.75%
49696	0.55%	0.67%	0.83%	1.07%	1.35%

Source: Ownwell

Property Tax Assessment Values Across Traverse City, Grand Traverse County, Michigan

When examining property taxes in Traverse City, 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 April. 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 Traverse City.

For example, the median home price in Traverse City is $304,155, with tax bills ranging significantly across the county. Zip code 49684 has the highest median home price at $328,828.

Property Tax Assessment Values Across Traverse City, Grand Traverse County, Michigan

Source: Ownwell

$240,804

$337,478

$434,152

Median Traverse City Market Value

$386,246

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 Traverse City, Grand Traverse County, Michigan

Zip	10th Percentile	25th Percentile	Median Home Price	75th Percentile	90th Percentile
49684	$183,584	$303,327	$406,345	$562,394	$753,956
49685	$144,224	$274,287	$377,353	$555,393	$876,228
49686	$148,885	$263,770	$382,050	$657,650	$1,187,621
49696	$210,425	$289,058	$384,433	$535,648	$721,500

Source: Ownwell

Property Tax Bills Across Traverse City, Grand Traverse County, Michigan

In Traverse City, located in Grand Traverse County, MI, property tax bills are calculated based on the assessed value of your home, which is determined by local assessors. The assessed value is typically a percentage of the market value of the property. Homeowners in Traverse City face a median tax bill that can vary significantly, with the 25th percentile at $1,545 and the 75th percentile reaching $4,096. The 90th percentile tax bill can be as high as $6,720. These figures contrast with the national median property tax rate of 1.02% and a median property tax bill of $2,400, highlighting the potential for higher costs in the area. For homeowners, these taxes can significantly impact annual budgets, especially in areas with higher median tax bills like the 49684 zip code, where it reaches $3,189. Ownwell can assist homeowners by reviewing their property assessments, identifying potential inaccuracies, and filing appeals to ensure they are not overpaying. This service can lead to substantial savings on property tax bills.

Property Tax Bills Across Traverse City, Grand Traverse County, Michigan

Source: Ownwell

$1,846

$3,044

$4,241

Median Traverse City Tax Bill

$3,660

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 Traverse City, Grand Traverse County, Michigan

Zip	10th Percentile	25th Percentile	Median Tax Bill	75th Percentile	90th Percentile
49684	$1,862	$2,752	$4,241	$6,679	$10,063
49685	$1,162	$2,080	$3,148	$4,849	$7,571
49686	$1,378	$2,422	$4,030	$6,690	$10,760
49696	$1,588	$2,246	$3,273	$4,812	$6,676

Source: Ownwell

Don't miss the deadline to appeal!

Dates
Appeal Deadline	March 9

Links
Grand Traverse Tax Assessor
Website	bsaonline.com

Frequently Asked Property Tax Questions in Traverse City, Michigan

How are property taxes calculated in Traverse City, Michigan?

Property taxes in Traverse City, Michigan are calculated by multiplying your property's assessed value by the applicable tax rate set by local taxing authorities. The assessed value is determined by the county assessor and may differ from your property's market value depending on local assessment ratios and exemptions.

How do I appeal my property taxes in Traverse City, Michigan?

To appeal your property taxes in Traverse City, Michigan, you typically need to file a formal protest or appeal with your local appraisal district or assessor's office by the stated deadline. You'll need evidence such as comparable sales, a recent independent appraisal, or documentation of property condition issues. Ownwell can handle this entire process for you.

What property tax exemptions are available in Traverse City, Michigan?

Common property tax exemptions in Traverse City, Michigan include homestead exemptions for primary residences, senior citizen exemptions, veteran exemptions, and disability exemptions. Exemption amounts and eligibility requirements vary by county. Contact your local appraisal district or check Ownwell for details specific to your property.

When are property taxes due in Traverse City, Michigan?

Property tax deadlines in Traverse City, Michigan vary by county but typically include an assessment notice period in spring or early summer, followed by an appeal deadline, and a tax payment due date in the fall or winter. Check with your county assessor's office for specific dates in your area.

How can Ownwell help reduce my property taxes in Traverse City, Michigan?

Ownwell provides professional property tax appeal services in Traverse City, Michigan. Our team analyzes your assessment, gathers evidence, files all paperwork, and represents you at hearings — all with no upfront cost. You only pay a percentage of your savings if we successfully lower your tax bill.