Test your basic knowledge |

MCAO: Michigan Certified Assessing Officer

Subject : certifications
  • 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. 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?

2. All meetings of the BOR are governed by the _

3. Taxable personal property includes all property not expressly _

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

5. Taxable unless specifically exempted

6. IFT's affect only the building value...

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

8. Formula used to calculate taxes is _

9. It (is not necessary to use __________ when valuing agricultural property.

10. If the interest rate is 5% - the effective tax rate is 2% - the recapture rate is 2.5% - and the income attributed to the building is $40 -000. The value of the building is _

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

12. Half the base times the height

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

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

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

16. Property Transfer Affidavit; must be filed by purchaser within 45 days of transfer

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

18. Potential income minus vacancy - bad debt - and operating expenses is the _

19. The value property has in a specific use

20. The most common types of ownership are _

21. _ is the rent actually received for a property

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

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

24. The CAMA system should be able to calculate the valuation of properties by direct capitalization in the _ approach

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

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

27. In heavily wooded areas where property lines may be difficult to identify - it is important that the owners protect their property from being claimed under _

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

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

30. The General Property Tax Law states that agricultural operations means farming in all its _

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

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

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

34. There are _ in a section

35. March Board of Review begins

36. Value is determined by _

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

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

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

40. The formula for calculating income is _

41. Monday December Board of Review begins

42. Michigan's Constitution uses _ to determine assessments

43. You verify a sale _

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

45. _ are applied to the cost schedules in the manuals

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

47. _ 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

48. Personal property forms must be approved by the _

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

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