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Reading Your Assessment Change Notice

Michigan law requires assessors to send notices to taxpayers whose taxable or assessed values have increased. The City of Traverse City sends notices to all taxpayers, whose values have increased, decreased, or remained the same.

If you have any questions or concerns after reviewing your Assessment Change Notice please call and speak with one of the department assessors. If you intend to file with the March Board of Review, we encourage you to call prior to Friday March 9th, 2018, to discuss , or  to schedule an appointment with the March Board of Review, call 231-922-4450.  

Please call our office prior to Friday March 9 to discuss your notice questions with an assessor or schedule an appointment with the March Board of Review.  You can also walk-in to the March Board of Review sessions but an appointment is preferable. 

Written petitions to the March Board of Review must be received by 5pm Tuesday, March 13, 2018.

Information regarding your Assessment Change Notice

  • THIS IS NOT A TAX BILL, WHAT IS IT? The Assessment Notice is just that – a notice. It indicates the change in the estimated value of your property and how much of that value is taxable. It does not indicate what your taxes will be for this year.
  • DO YOU HAVE A PRINCIPLE RESIDENCE EXEMPTION? Having a principle residence exemption saves you approximately $18.00 in actual property tax per $1,000 of taxable value. You must own and occupy the property to qualify.
  • ESTIMATED VALUE OF YOUR HOME AND HOW MUCH YOU WILL PAY IN TAXES ON. This area indicates the increase/decrease in assessed value and taxable value. If there is a gap between assessed and taxable, that means that you are paying taxes on less than half of the market value. Taxable value cannot be higher than the assessed value.  For 2018 the Inflation Rate Mulitplier to the 2017 is 1.021.

2018 Capped Value Formula is as follows:

2018 CAPPED VALUE = (2017 Taxable Value – LOSSES) X 1.021 + ADDITIONS The formula above does not include 1.05 because the inflation rate multiplier of 1.021 is lower than 1.05.

  • WHY YOUR ASSESSMENT CHANGED. The assessor recalculates the value of property every year. This area provides a general explanation of why the assessment changed. Even if you haven’t made any changes to your property in the past year, your assessment will likely change to reflect the current real estate market within your neighborhood.
  • If a transfer of ownership occurred, the taxable value must be equal to the assessed value.
  • Based upon the change in taxable value, this is an estimate of the change in from your 2017 tax bill.

How to read you Assessment Change Notice (ACN)
State of Michigan - Boards of Review Informational Guide  
State of Michigan - Boards of Review Informational Page
*click on the Board of Tax Review on the left to see the board members.

This page last updated on 2/12/2018.