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






2. CAMA system should estimate replacement cost new less depreciation in the _ approach






3. Buildings on leased lands _ personal property






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






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






6. Used to value the income stream of a property






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






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






9. _ is the rent actually received for a property






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






11. The formula for calculating tax bills is _






12. Public rights-of-way are _






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






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






15. May change assessment for current year






16. Methods used to describe property in Michigan






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






18. The cost approach is used to estimate _ of an _






19. Cost to construct an exact duplicate of the subject






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






21. Taxable unless specifically exempted






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






23. 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.






24. The formula for using a gross rent multiplier to determine market value is _






25. Personal property statemetns are due on _






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






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






28. Definition of ad valorem






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






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






31. True cash value is _






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






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






34. Leased property is...






35. 1 acre =






36. Special assessments must _ the properties in the district






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






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






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






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






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






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






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






44. Enacted in 1893






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






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






47. Approved by voters in 1978






48. The Commercial Forest Act permits an owner to put property into a program that permits payment of a _ in lieu of the ad valorem rates






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






50. When measuring a house - you use _ measurements







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Can you answer 50 questions in 15 minutes?


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