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. 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 _






2. The _ determines the size for rates






3. To calculate a gross rent multiplier - _






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






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






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






7. _ soil is considered the most productive






8. 16 1/2 feet =






9. Length times the width






10. The formula for calculating income is _






11. Used to estimate the cost of constructing improvements to the land






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






13. There are _ in a geographical township






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






15. Net income is _ minus _






16. Report of Taxable Valuations Including Additions - Losses and Totals as approved by BOR;






17. The most common types of ownership are _






18. 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






19. 1 mile =






20. Approved by voters in 1978






21. The difference between commercial and industrial property is _






22. The right to use - occupy - and control a property for the length of the lessee's life






23. Cost to construct an exact duplicate of the subject






24. 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.






25. Deadline for filing personal property statements






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






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






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






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






30. Public rights-of-way are _






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






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






33. Personal property statemetns are due on _






34. _ 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.






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






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






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






38. Personal property forms must be approved by the _






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






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






41. Tax day






42. The highest degree of ownership






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






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






45. A platted subdivision is described by _






46. Radius squared times Pi (3.1416)






47. Special assessments are not levied on all real and personal property that...






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






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






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