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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. Approved by voters in 1978






2. IFT's affect only the building value...






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






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






5. Methods used to describe property in Michigan






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






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






8. The value of vacant land is estimated using _






9. Special assessments must _ the properties in the district






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






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






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






13. The formula for calculating income is _






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






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






16. 1 mile =






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






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






19. Deadline for filing Principal Residence Affidavits






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






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






22. Enacted in 1893






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






24. Used to value the income stream of a property






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






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






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






28. Michigan's Constitution provides for _ of taxation






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






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






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






32. 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 _






33. When measuring a house - you use _ measurements






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






35. _ is used to adjust the cosst approach to market value for residential properties






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






37. Who may ask for establishment of an industrial facility tax exemption district?






38. Usually valuing farmland is done by the _ for the land values and the _ for the buildings.






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






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






41. All meetings of the BOR are governed by the _






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






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






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






45. July Board of Review begins






46. 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 _






47. Not transfers of ownership






48. Taxable personal property includes all property not expressly _






49. There are _ in a geographical township






50. Market value of property is _







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Can you answer 50 questions in 15 minutes?


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