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






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






3. Public rights-of-way are _






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






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






6. The three approaches to value






7. True cash value is _






8. The most common types of ownership are _






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






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






11. Definition of ad valorem






12. July Board of Review begins






13. The _ determines the size for rates






14. The value property has in a specific use






15. The formula for calculating tax bills is _






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






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






18. Management costs in timber-cutover include _ which are usually the largest expense in this classification






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






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






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






22. Not transfers of ownership






23. _ soil is considered the most productive






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






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






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






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






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






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






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






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






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






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






34. The physical land and any structure attached to it






35. Members of the Board of Review must be _ of the township






36. Buildings on leased lands _ personal property






37. Equity within the 83 counties of the state is the responsibility of the _






38. Approved by voters in 1978






39. Inventory (is/is not) exempt






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






41. The three categories of depreciation are _






42. 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.






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






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






45. The government retains the following powers






46. The rights of ownership removed by government are _






47. Michigan's Constitution provides for _ of taxation






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






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






50. Michigan's Constitution uses _ to determine assessments