Test your basic knowledge |

MCAO: Michigan Certified Assessing Officer

Subject : certifications
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Proposal A had the immediate result of _ property taxes in the state






2. Notices of the decisions of the BOR must be mailed by the _






3. The market rent times the number of units availabe to rent is _






4. Churches - schools - libraries and similar institutions are usually...






5. A depth factor chart is used to adjust lots that are _






6. There are _ in a geographical township






7. The CAMA system should be able to calculate the valuation of properties by direct capitalization in the _ approach






8. There are _ in a section






9. The most common types of ownership are _






10. - The Building Residual - and the Direct Capitalization Capitalization techniques include the following:






11. Equity at the local level is the responsibility of the _






12. The Assessor or Equalization Director's Notice of Property Incorrectly Reported or Omitted from Assessment Roll; filed with STC when omitted property is discovered






13. Notice of special assessment public hearings must be given to _






14. Cost to construct improvement with the same functional utility of the subject






15. Leased property is...






16. The capitalization rate includes the _ - _ and the _






17. The Commercial Forest Act permits an owner to put property into a program that permits payment of a _ in lieu of the ad valorem rates






18. Convened to correct clerical errors - mutual mistakes of fact or qualified errors






19. Formula used to calculate taxes is _






20. Article 9 of the Michigan Constitution provides for uniform property taxation which may not exceed _ of true cash value which is defined as being the _






21. _ is a loss of utility and therefore of value from any cause






22. Equity within the 83 counties of the state is the responsibility of the _






23. Number of acres in the E 1/2 of the W 1/2 of hte NW 1/4






24. Most taxpayers must appeal to the local _ before appealing to the _






25. The first meeting of the BOR is held on the _






26. If a business fails to file a personal property statement - the assessor shall _






27. The return on the investment called in the capitalization rate is _






28. The three approaches to value






29. Capped value is _

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30. A consumer must be able to purchasee the property






31. The General Property Tax Law states that agricultural operations means farming in all its _






32. If the subject property has a fireplace and air-conditioning and the comp has only air-conditioning - what adjustment would be made to what property?






33. Property Transfer Affidavit; must be filed by purchaser within 45 days of transfer






34. _ is estimating the cost of an exact duplication of the building






35. The March Board of Review may change assessments - exemptions - and classification property. What additional authority were they given by Proposal A?






36. March Board of Review begins






37. If there is a 40-acre parcel and all but the land surrounding the house is wooded - this property should be classified by _






38. The formula for calculating tax bills is _






39. Length times the width






40. The _ must approve the application for an IFT before the State Tax Commission approves the application






41. Unknown dimension formula






42. The three principal steps in the cost approach are _






43. The CAMA system should be able to select comparable sales - make adjustments to the comps - and come up with an estimate of market value for the subject in the _ approach






44. The highest degree of ownership






45. Cost to construct an exact duplicate of the subject






46. One use of land value maps is to _






47. Ordinance established the laws that cover Michigan - Ohio - Indiana - Illinois - and Wisconsin






48. _ are used to value income-producing residential property






49. Equity within the county is the responsibility of the _






50. Used to value the income stream of a property