City and Local Taxes

What is equalized value?

This is the value of your property after assessment, which is then adjusted so that all similar properties are equally and uniformly assessed. This ensures that a school district, city, or township in which property is under-assessed does not get more than its fair share of state aid or funds. In some states, the state equalized value represents 50% of the true cash value of the property, although this may or may not be the same as the market value (the value which the property would sell for).


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