Traverse City, Grand Traverse County, Michigan Property Taxes
Property Taxes in Traverse City, Michigan
Median Traverse City, Michigan effective property tax rate: 0.89%, significantly lower than the national median of 1.02%, and lower than the Michigan state median of 1.05%.
Median Traverse City, Michigan home value: $386,246
Median annual Traverse City, Michigan tax bill: $3,660, $1,260 higher than the national median property tax bill of $2,400.
How are property taxes in Grand Traverse calculated?
Property taxes in Traverse City, Michigan 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 April 13, 2026
Traverse City, Grand Traverse County, Michigan Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.89%
Estimate Property Tax Bill
$3,438
$3,190
How Does the Traverse City Property Tax Calculator Work?
Use this Traverse City property tax calculator to estimate your annual property tax bill. Enter your property's assessed value and our calculator applies Traverse City’s median effective tax rate of 0.89% — based on actual property records in Grand Traverse County — to generate your estimate.
Enter your property's estimated assessed value — the figure the local appraisal district uses to calculate your bill, which reflects any exemptions you hold and is typically lower than your home's market value. Our calculator applies Traverse City’s median effective rate across all local levies, providing a more accurate estimate than applying a single county millage rate.
Your bill may vary by ZIP code within Traverse City: rates range from the lowest median tax bill of $3,148 in 49685 to the highest median tax bill of $4,241 in 49684, primarily due to differences in school district levies and local assessment districts. Traverse City’s median tax bill of $3,660 is lower than Michigan’s median tax bill by $1,260, even though the city’s median tax rate of 0.89% is lower than the 1.05% state median.
For a more precise estimate, scroll down to explore ZIP code-level tax rate trends across Traverse City.
About Traverse City Property Taxes
About Property Taxes in Traverse City, Grand Traverse, Michigan
Traverse City’s median effective property tax rate of 0.89% is lower than the Michigan state median of 1.05% and lower than the national median of 1.02%. This rate reflects the Grand Traverse County base levy combined with local school district levies and Tax increment finance districts that vary by subdivision throughout the city.
Property tax rates are not uniform across Traverse City. Homeowners in the 49684 ZIP code carry a median effective rate of 0.98%, while those in 49685 pay 0.81%. This spread — 0.17 percentage points across the same city — reflects how school district boundaries and local assessment districts are drawn across Grand Traverse County. Understanding which part of Traverse City you live in can make a meaningful difference to your annual tax bill.
Traverse City homeowners who believe their assessed value is too high can file a formal appeal with the local Tax Assessor before the March 9, 2026 deadline each year.
If your estimated bill above seems higher than expected, Ownwell can review your assessment and protest on your behalf. You only pay if we save you money.
Property Tax Rates Across Traverse City, Grand Traverse County, Michigan
As noted earlier, local government entities set tax rates, which can vary widely within a state.
Why? Because annually, each county estimates its required budget to provide services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate.
While there are votes and laws involved in setting tax rates and budgets, in a nutshell, this is the annual process.
Below, you can compare Traverse City’s effective property tax rate to other cities in Michigan and the median property tax rates in Michigan and the U.S.
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%
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 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, Michigan, 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.
Assessment notices:
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 Traverse City.
For example, the median home price in Traverse City is $386,246, with tax bills ranging significantly across the county. 49684 has the highest median home price at $406,345.
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
Property tax bills in Traverse City are based on the assessed value of a home and the local tax rate set by taxing authorities in Grand Traverse County. When a property’s market value rises, the assessed value can increase as well, which may lead to a higher tax bill. Homeowners are taxed on that assessed value, so the bill reflects both the home’s value and the rate applied to it.
In Traverse City, the median home price is $386,246, and the median property tax bill is $4,241 in ZIP code 49684, compared with $3,148 in ZIP code 49685. That range shows how location within the city can affect what homeowners pay. The typical tax bill here is also above the national median property tax bill of $2,400, which means local homeowners often face a larger annual cost than the average U.S. homeowner.
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 |