Property tax equalization

In today's world, Property tax equalization has acquired indisputable relevance in different areas. From its impact on society to its influence on popular culture, Property tax equalization has managed to capture the attention of millions of people around the world. Whether through music, film, politics or any other medium, Property tax equalization has become a recurring topic of conversation and an inexhaustible source of debate and reflection. In this article, we will explore different facets of Property tax equalization and analyze its impact today, as well as its projection in the future.

Process used in calculation of property taxes

This article is about equalization of assessed values for property taxes. For equalization of workers' taxes between countries, see Tax equalization.

This article needs attention from an expert in taxation. The specific problem is: It will be difficult to explain this subject, its history, and methods in lay terms without some skill. WikiProject Taxation may be able to help recruit an expert. (December 2019)

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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" (PDF). Springfield, Illinois: Illinois Department of Revenue. May 2019. p. 4. Retrieved 2019-12-29.
2. ^ "Equalization". Trenton, New Jersey: New Jersey State League of Municipalities. Retrieved 2019-12-29.

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