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






2. In a residential neighborhood - the measurement usually used in developing cost is _






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






4. The definition of the economic principle of highest and best use is _






5. The middle of a ratio study where the ratios are ranked from lowest to highest or highest to lowest






6. Value is determined by _






7. The formula for calculating tax bills is _






8. Public rights-of-way are _






9. The most common types of ownership are _






10. When appraising a commercial building - you should remember that unlike building - land is...






11. _ is the rent actually received for a property






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






13. In July and December - the BOR may meet to _






14. Effective gross income is the estimated _ less _ for _ and _ plus other _ or _






15. A report of Real and Personal Property totals prepared by the county equalization department; submitted to STC by the third Monday in April






16. Pole barns - silos - and large grain bins are considered _






17. The difference between commercial and industrial property is _






18. The government is authorized to levy taxes in the _






19. If a property owner has an agricultural use on 1/2 their property - they may designate a specific number of wooded acres as _






20. _ includes the discount rate - recapture rate - and the effective rate.






21. The _ to value is best used for mass appraisals being done by the assessor.






22. Taxable unless specifically exempted






23. Special assessments are not levied on all real and personal property that...






24. May change assessment for current year






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






26. is the rent a property could command on the open market






27. Taxable personal property includes all property not expressly _






28. The value property has in a specific use






29. Used to estimate the cost of constructing improvements to the land






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






31. Net income is _ minus _






32. All meetings of the BOR are governed by the _






33. True cash value is _






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






35. Used to value the income stream of a property






36. Two types of maps that are used in valuing agricultural land are _ maps and _ maps






37. To calculate a gross rent multiplier - _






38. Enacted in 1893






39. The formula for calculating value is _






40. _ are applied to the cost schedules in the manuals






41. Approved by voters in 1978






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






43. Vacant land adjustments have to be made for differences in _






44. In heavily wooded areas where property lines may be difficult to identify - it is important that the owners protect their property from being claimed under _






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






46. The physical land and any structure attached to it






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






48. Deadline for filing Principal Residence Affidavits






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






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