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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. July Board of Review begins






2. Initial survey point for Michigan at the intersection of two streets






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






4. Enacted in 1893






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






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






7. There are _ in a section






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. A report of Real and Personal Property totals prepared by the county equalization department; submitted to STC by the third Monday in April






10. The government retains the following powers






11. Number of acres in the E 1/2 of the W 1/2 of hte NW 1/4






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






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






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






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






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






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






18. True cash value is _






19. 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 _






20. Monday December Board of Review begins






21. _ 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






22. A consumer must be able to purchasee the property






23. Special assessment districts are commonly used for _






24. May change assessment for current year






25. The second meeting of the BOR is held to _






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






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. Methods used to describe property in Michigan






29. Economic condition factors (are/are not) applied to land and buildings






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






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






32. The definition of the economic principle of highest and best use is _






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






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






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






36. Definition of ad valorem






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






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






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






40. A platted subdivision is described by _






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






42. The physical land and any structure attached to it






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






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






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






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






47. 16 1/2 feet =






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






49. Used to value the income stream of a property






50. The formula for calculating tax bills is _







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Can you answer 50 questions in 15 minutes?


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