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, whether the 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 or to schedule an appointment, 231-922-4450. Please call our office prior to Friday, March 11, 2022, to discuss your questions with an assessor or schedule an appointment with the March Board of Review.

MBOR meetings: Monday, March 14th, 9 am to 3 pm & Tuesday, March 15th, 3 pm-9 pm City Assessing Department, 400 Boardman Avenue, Governmental Center, Traverse City, MI 49684

Please check the City Calendar for further information.

Information regarding your Assessment Change Notice

  • THIS IS NOT A TAX BILL, WHAT IS IT? The Assessment Notice is just that – a notice; Indicating the change of the estimated market value of the property and the Taxable Value.  In addition, the notice provides an estimate of the taxable value change; this estimate is based on the previous year's millages and is an estimate only.
  • DO YOU HAVE A PRINCIPLE RESIDENCE EXEMPTION? Having a principal 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. 

2022 Capped Value Formula is as follows:

2022 CAPPED VALUE = (2021 Taxable Value – LOSSES) X 1.033 + ADDITIONS

Michigan Department of Treasury * Procedural Changes

WHY YOUR ASSESSMENT CHANGED. The assessor recalculates the value of property every year, as of tax day, 12/31.

The Assessment Change Notice 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 from last year's tax bill.

Link to Maps & Reports for 2022 Assessments

The above link will take you to Google drive

How to read your Assessment Change Notice (ACN)

State of Michigan - Boards of Review Informational Page

List of current Board Members

Outside real estate source information