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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. True cash value is _






2. Buildings on leased lands _ personal property






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






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






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






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






7. Michigan's Constitution provides for _ of taxation






8. Deadline for filing personal property statements






9. You verify a sale _






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






11. The estimated potential gross income less allowances for vacancy and rent loss plus other income or miscellaneous income is _






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






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






14. Taxable personal property includes all property not expressly _






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






16. Length times the width






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






18. The physical land and any structure attached to it






19. Special assessments must _ the properties in the district






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






21. The formula for calculating income is _






22. Tax day






23. Compares the property beign appraised to similar properties that have recently sold






24. 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 _






25. Leased property is...






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






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






28. The _ determines the size for rates






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






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






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






32. The return on the investment called in the capitalization rate is _






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






34. July Board of Review begins






35. Personal property forms must be approved by the _






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






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






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






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






40. Value is determined by _






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






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






43. A limits the maximum amount of ad valorem taxes that may be levied for school district operating purposes. The change this maximum requires a vote of _ of the legislature to approve.






44. When measuring a house - you use _ measurements






45. _ is the rent actually received for a property






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






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






48. 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?






49. To calculate a gross rent multiplier - _






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






Can you answer 50 questions in 15 minutes?



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