Dictionary of Business Terms: equalization board
equalization board
government agency that determines the fairness of taxes levied against property. It ensures, for example, that all counties within a state assess property at a uniform rate so that the state can redistribute money on a fair basis.
Dictionary of Real Estate Terms: equalization board
equalization board
a government agency that determines the fairness of taxes levied against properties.
Example: Abel feels the market value estimate of his property made by the tax assessor is too high. Appeals to the assessor do not result in satisfying Abel's complaint. Abel may take his case to the Equalization Board in the hope of reducing the amount of his assessment.
