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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. The three categories of depreciation are _






2. 1 mile =






3. Personal property statemetns are due on _






4. The formula for calculating value is _






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






6. The formula for calculating tax bills is _






7. Formula used to calculate taxes is _






8. May change assessment for current year






9. IFT certificates are granted for _ years with a possible 2-year construction period






10. 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 _






11. There are _ in a geographical township






12. The BOR _ and _ the roll






13. Radius squared times Pi (3.1416)






14. Public rights-of-way are _






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






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






17. When measuring a house - you use _ measurements






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






19. The formula for calculating rate is _






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






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






22. 1 acre =






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






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






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






26. The Tuesday following the third Monday in _ is the _ meeting.






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






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






29. The value of vacant land is estimated using _






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






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






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






33. Tax day






34. The government retains the following powers






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






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






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






38. _ is the rent actually received for a property






39. Half the base times the height






40. The usual reference source regarding assessment and taxes






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






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






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






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






46. Special assessment districts are commonly used for _






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






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






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






50. _ 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







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