Property tax equalization

Short description: Process used in calculation of property taxes

Equalization is a step in property taxation to bring a uniformity to tax assessment levels across different geographical areas or classes of properties. Equalization is usually in the form of a uniform percentage of increase or decrease to each area or class of property.[1]

Attempts at explicit equalization in tax assessments date back at least as early as 1799.[2]

## See also

* Fair market value

## References

1. ↑ "Publication 136: Property Assessment and Equalization". Springfield, Illinois: Illinois Department of Revenue. May 2019. p. 4. https://www2.illinois.gov/rev/research/publications/pubs/Documents/pub-136.pdf.
2. ↑ "Equalization". Trenton, New Jersey: New Jersey State League of Municipalities. https://www.njlm.org/205/Equalization.

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