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






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






3. 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 _






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






5. Leased property is...






6. Radius squared times Pi (3.1416)






7. Public rights-of-way are _






8. Cost to construct an exact duplicate of the subject






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






10. The government is authorized to levy taxes in the _






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






12. Accurate _ and _ are necessary because assessments are only as accurate as the data used to calculate them






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






14. 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






15. Computer assisted mass appraisal






16. Not transfers of ownership






17. 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 _






18. The four basic steps in the sales comparison approach is _






19. The most common types of ownership are _






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






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






22. The capitalization rate includes the _ - _ and the _






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






24. _ includes the discount rate - recapture rate - and the effective rate.






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






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






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






28. There are _ in a geographical township






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






30. _ 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.






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






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






33. The middle of a ratio study where the ratios are ranked from lowest to highest or highest to lowest






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






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






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






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






38. A platted subdivision is described by _






39. Tax day






40. The difference between commercial and industrial property is _






41. Half the base times the height






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






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






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






45. 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 _






46. Applications for IFT districts must be received by the State Tax Commission by _ to be acted on for the following year






47. In a township - the _ is the secretary of the Board of Review






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






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






50. To calculate a gross rent multiplier - _







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Can you answer 50 questions in 15 minutes?


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