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






2. The highest degree of ownership






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






4. May change assessment for current year






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






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






7. _ was designed to provide for the exemption from certain taxes; to levy and collect a specific tax from the owners of properties so exempted; and to provide for the transfer of the exemption certificates; also prescribes the power and dute of the STC






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






9. There are _ in a section






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






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






12. Inventory (is/is not) exempt






13. Michigan's Constitution provides for _ of taxation






14. 1 acre =






15. Report of Taxable Valuations Including Additions - Losses and Totals as approved by BOR;






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






17. In a cost approach program - the computer system should estimate _ less _






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






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






20. _ is the rent actually received for a property






21. Movable irrigation systems including pumps not an integral part of a well are _ and are _






22. 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






23. Capped value is _

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24. Special assessments must _ the properties in the district






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






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






27. Michigan's Constitution uses _ to determine assessments






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






29. The four basic steps in the sales comparison approach is _






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






31. July Board of Review begins






32. Net income is _ minus _






33. The Private Forest Reserve Act specifies that the property in the reserve be assessed on the ad valorem at _






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






35. Approved by voters in 1978






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






37. March Board of Review begins






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






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






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






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






42. The usual reference source regarding assessment and taxes






43. IFT certificates are granted for _ years with a possible 2-year construction period






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






45. The Board of Review was created by the _ of 1893






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






47. Formula used to calculate taxes is _






48. Report of Assessment Roll Changes and Classification; includes assessed values of all eleven classes of property






49. Value is determined by _






50. Analysis for Equalized Valuation prepared by the county equalization department; submitted to the STC by the third Monday in April