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






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






3. _ do not include property taxes - depreciation - debt retirement - or interest earned on the funds invested in the property






4. Capped value is _

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5. Proposal A had the immediate result of _ property taxes in the state






6. _ soil is considered the most productive






7. CAMA system should estimate replacement cost new less depreciation in the _ approach






8. To calculate a gross rent multiplier - _






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






10. March Board of Review begins






11. Half the base times the height






12. Deadline for filing personal property statements






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






14. Taxable personal property includes all property not expressly _






15. 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






16. Market value of property is _






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






18. The amount of money or goods you can receive if you sell property






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






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






21. Buildings on leased lands _ personal property






22. Management costs in timber-cutover include _ which are usually the largest expense in this classification






23. Formula used to calculate taxes is _






24. Sections in a township start _






25. Usually valuing farmland is done by the _ for the land values and the _ for the buildings.






26. 1 acre =






27. Cost to construct an exact duplicate of the subject






28. The value of vacant land is estimated using _






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






30. Leased property is...






31. The difference between commercial and industrial property is _






32. You verify a sale _






33. Members of the Board of Review must be _ of the township






34. The formula for calculating value is _






35. Public rights-of-way are _






36. _ is the rent actually received for a property






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






38. A consumer must want the product for it to have value






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






40. The government retains the following powers






41. The usual reference source regarding assessment and taxes






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






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






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






45. The most common types of ownership are _






46. _ 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






47. A consumer must be able to purchasee the property






48. Value is determined by _






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






50. Unknown dimension formula







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Can you answer 50 questions in 15 minutes?


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