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).