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






2. Taxable unless specifically exempted






3. July Board of Review begins






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






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






6. Definition of ad valorem






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






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






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






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






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






12. Length times the width






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






14. _ are used to value income-producing residential property






15. 1 mile =






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






17. 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?






18. The highest degree of ownership






19. Michigan's Constitution uses _ to determine assessments






20. When measuring a house - you use _ measurements






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






22. Cost to construct an exact duplicate of the subject






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






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






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






26. The value of vacant land is estimated using _






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






28. A platted subdivision is described by _






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






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






31. The formula for calculating value is _






32. The usual reference source regarding assessment and taxes






33. May change assessment for current year






34. _ is used to adjust the cosst approach to market value for residential properties






35. The government retains the following powers






36. The BOR _ and _ the roll






37. Approved by voters in 1978






38. _ is the rent actually received for a property






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






40. The rights of ownership removed by government are _






41. To calculate a gross rent multiplier - _






42. Deadline for filing personal property statements






43. The three approaches to value






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






45. Tax day






46. A private claim describes property that was occupied prior to the _






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






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






49. Article 9 of the Michigan Constitution provides for uniform property taxation which may not exceed _ of true cash value which is defined as being the _






50. Inventory (is/is not) exempt