Dictionary of Business Terms: board of equalization
board of equalization
government entity whose purpose is to assure uniform property tax assessments. A board of equalization at the local level may review tax assessments to be certain that the assessment for each parcel is fair. At the state level, the board will assure that each county is assessing property at the mandated proportion of market value.
Dictionary of Real Estate Terms: board of equalization
board of equalization
a government entity whose purpose is to assure uniform property tax assessments.
Example: A board of equalization at the local level may review assessments to be certain that the assessment for each parcel is fair; at the state level, the board will assure that each county is assessing property at the mandated proportion of market value.
