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. To calculate a gross rent multiplier - _






2. 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 _






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






4. Michigan's Constitution provides for _ of taxation






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






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






7. The value of vacant land is estimated using _






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






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






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






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






12. Not transfers of ownership






13. 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.






14. _ was designed to provide for the exemption from certain taxes; to levy and collect a specific tax from the owners of properties so exempted; and to provide for the transfer of the exemption certificates; also prescribes the power and dute of the STC






15. The government retains the following powers






16. The difference between commercial and industrial property is _






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






18. Capped value is _

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19. True cash value is _






20. The formula for calculating value is _






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






22. The _ must approve the application for an IFT before the State Tax Commission approves the application






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






24. Market value of property is _






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






26. A consumer must be able to purchasee the property






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






28. Tax day






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






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






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






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






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






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






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






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






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






38. A consumer must want the product for it to have value






39. The rights of ownership removed by government are _






40. Definition of ad valorem






41. 1 mile =






42. A depth factor chart is used to adjust lots that are _






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






44. Leased property is...






45. The rights of ownership (bundle of rights) enjoyed by the owner of real estate






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






47. Deadline for filing personal property statements






48. Taxable personal property includes all property not expressly _






49. Ordinance established the laws that cover Michigan - Ohio - Indiana - Illinois - and Wisconsin






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