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






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. Market value of property is _






4. Deadline for filing personal property statements






5. The second meeting of the BOR is held to _






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






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






8. True cash value is _






9. The three approaches to value






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






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






12. Monday December Board of Review begins






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






14. _ is the rent actually received for a property






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






16. July Board of Review begins






17. The formula for calculating tax bills is _






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






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






20. In a cost approach program - the computer system should estimate _ less _






21. Net income is _ minus _






22. 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.






23. Personal property may be _






24. 1 acre =






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






26. The government retains the following powers






27. 16 1/2 feet =






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






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






30. Michigan's Constitution provides for _ of taxation






31. Personal property forms must be approved by the _






32. Depreciation in the assessing process is expressed as a _






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






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






35. The rights of ownership removed by government are _






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






37. The definition of market value is _






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






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






40. If a business fails to file a personal property statement - the assessor shall _






41. Special assessment districts are commonly used for _






42. Length times the width






43. Unknown dimension formula






44. Methods used to describe property in Michigan






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






46. Cost to construct improvement with the same functional utility of the subject






47. In heavily wooded areas where property lines may be difficult to identify - it is important that the owners protect their property from being claimed under _






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






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






50. The formula for calculating rate is _