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. True cash value is _






2. 1 mile =






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






4. If the Board of Review or Michigan Tax Tribunal changes the assessed - equalized - or taxable value - that value is used as the _






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






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






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






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






9. _ are those expenses necessary for generating income. This includes reserves for replacements - accounting fees - advertising costs - maintenance costs such as lawn care - snow removal - repairs - trash removal - utilities - and a maintenance manager






10. Tax day






11. Personal property statemetns are due on _






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






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






14. Michigan Tax Tribunal Appeals of special assessments are first appealed to the _ or _ and then to the _






15. _ measures value in exchange; it is based on the principle of substitution






16. Monday December Board of Review begins






17. Half the base times the height






18. The formula for using a gross rent multiplier to determine market value is _






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






20. The rights of ownership removed by government are _






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






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






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






24. Personal property statements (are/are not) available to the public under the Freedom of Information Act.






25. Deadline for filing Principal Residence Affidavits






26. Market value of property is _






27. The value of vacant land is estimated using _






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






29. The most common types of ownership are _






30. The formula for calculating value is _






31. 16 1/2 feet =






32. Value is determined by _






33. Unknown dimension formula






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






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






36. Not transfers of ownership






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






38. Who may ask for establishment of an industrial facility tax exemption district?






39. One use of land value maps is to _






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






41. There are _ in a geographical township






42. A report of Real and Personal Property Taxable Valuations prepared by county equalization; submitted to STC by fourth Monday in April






43. Inventory (is/is not) exempt






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






45. The difference between commercial and industrial property is _






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






47. Deadline for filing personal property statements






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






49. It is necessary to have an evening meeting unless the residents...






50. Requires that the ratio of assessments to true cash value not exceed 50%