A dynamic head position tracking control for a magnetic tape playback system employs a detected dither signal to determine the elevational position of a pair of magnetic transducing heads relative to tracks of recorded information being scanned by the heads. This detection is carried out at several locations along the lengths of the tracks being scanned, and a value is stored for each of the locations. Based upon the stored information, an estimation is made of a position value for the first location along the length of the tracks. This estimation is determined from a weighted extrapolation of the following two samples taken during the scan of the track. The elevational position of the heads is then dynamically controlled in accordance with the actual and estimated head position values.