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. 16 1/2 feet =






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






3. 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 _






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






5. The formula for calculating income is _






6. Buildings on leased lands _ personal property






7. True cash value is _






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






9. Length times the width






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






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






12. 1 mile =






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






14. The rights of ownership removed by government are _






15. 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?






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






17. In a residential neighborhood - the measurement usually used in developing cost is _






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






19. The three approaches to value






20. Special assessment districts are commonly used for _






21. There are _ in a geographical township






22. When measuring a house - you use _ measurements






23. _ is estimating the cost of an exact duplication of the building






24. _ 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






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






26. - The Building Residual - and the Direct Capitalization Capitalization techniques include the following:






27. _ are expenses that may be part of the capitalization rate such as depreciation and property taxes or capital improvement expenses and the owner's costs and corporation costs; also not income taxes.






28. Pole barns - silos - and large grain bins are considered _






29. Definition of ad valorem






30. Equity at the local level is the responsibility of the _






31. The BOR _ and _ the roll






32. A platted subdivision is described by _






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






34. The government is authorized to levy taxes in the _






35. Net income is _ minus _






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






37. Michigan's Constitution provides for _ of taxation






38. The value of vacant land is estimated using _






39. Formula used to calculate taxes is _






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






41. Radius squared times Pi (3.1416)






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






43. Monday December Board of Review begins






44. 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 _






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






46. 1 acre =






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






48. _ are those expenses necessary for generating income. This includes reserves for replacements - accounting fees - advertising costs - maintenance costs such as lawn care - snow removal - repairs - trash removal - utilities - and a maintenance manager






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






50. Special assessments must _ the properties in the district