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






2. July Board of Review begins






3. The discount rate may be developed by the following:






4. Special assessment districts are commonly used for _






5. Inventory (is/is not) exempt






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






7. The formula for calculating tax bills is _






8. Monday December Board of Review begins






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






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






11. The right to use - occupy - and control a property for the length of the lessee's life






12. The rights of ownership removed by government are _






13. March Board of Review begins






14. The cost approach is used to estimate _ of an _






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






16. The _ determines the size for rates






17. Formula used to calculate taxes is _






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






19. IFT's affect only the building value...






20. The Tuesday following the third Monday in _ is the _ meeting.






21. Special assessments must _ the properties in the district






22. There are _ in a section






23. It (is not necessary to use __________ when valuing agricultural property.






24. Personal property forms must be approved by the _






25. - restrictions (zoneing - etc.) - and improvements on the site When valuing property - the assessor should consider _






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






27. _ are expenses that may be part of the capitalization rate such as depreciation and property taxes or capital improvement expenses and the owner's costs and corporation costs; also not income taxes.






28. Market value of property is _






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






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






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






32. Accurate _ and _ are necessary because assessments are only as accurate as the data used to calculate them






33. Radius squared times Pi (3.1416)






34. Assessor Affidavit Regarding 'Uncapping' of Taxable Value; used when it is discovered that a property value should have been uncapped but wasn't






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






36. The highest degree of ownership






37. _ is a loss in value caused by factors outside the property






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






39. The income approach calculates the _ of a future income stream






40. 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?






41. The BOR _ and _ the roll






42. _ is estimating the cost of a building of similar design and utility






43. The physical land and any structure attached to it






44. The formula for calculating income is _






45. The estimated potential gross income less allowances for vacancy and rent loss plus other income or miscellaneous income is _






46. 16 1/2 feet =






47. The rights of ownership (bundle of rights) enjoyed by the owner of real estate






48. Depreciation in the assessing process is expressed as a _






49. 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






50. Deadline for filing Principal Residence Affidavits







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Can you answer 50 questions in 15 minutes?


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