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






2. Radius squared times Pi (3.1416)






3. Personal property forms must be approved by the _






4. Value is determined by _






5. Tax day






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






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






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






9. The difference between commercial and industrial property is _






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






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






12. July Board of Review begins






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






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






15. Enacted in 1893






16. Cost to construct an exact duplicate of the subject






17. The BOR _ and _ the roll






18. The four basic steps in the sales comparison approach is _






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






20. A depth factor chart is used to adjust lots that are _






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






22. The physical land and any structure attached to it






23. _ is a loss in value caused by factors outside the property






24. 1 acre =






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






26. _ are used to value income-producing residential property






27. The value of vacant land is estimated using _






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






29. One use of land value maps is to _






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






31. The formula for calculating income is _






32. _ 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






33. The formula for calculating tax bills is _






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






35. Requires that the ratio of assessments to true cash value not exceed 50%






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






37. True cash value is _






38. Unknown dimension formula






39. Net income is _ minus _






40. Computer assisted mass appraisal






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






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






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






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






45. Taxable personal property includes all property not expressly _






46. The income approach calculates the _ of a future income stream






47. Inventory (is/is not) exempt






48. _ includes the discount rate - recapture rate - and the effective rate.






49. The CAMA system should be able to calculate the valuation of properties by direct capitalization in the _ approach






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






Can you answer 50 questions in 15 minutes?



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