Legal Definitions - equalization

Definition: Equalization is the process of adjusting assessed values or taxes to make them fair and uniform.

For example, if one property is assessed at a higher value than another property of similar size and location, equalization may be used to adjust the values so that they are more equal. Similarly, if one area is taxed at a higher rate than another area, equalization may be used to adjust the taxes so that they are more uniform.

Equalization is important because it ensures that everyone is paying their fair share of taxes and that property values are assessed accurately and fairly.