equalization

(UK also equalisation)

/ˌiːkwəlaɪˈzeɪʃən/

/ˌiːkwəlɪˈzeɪʃən/ noun [U]

Definition

› PROPERTY, TAX in the US and Canada, a process in which each local tax authority tries to make sure that the amount of tax to pay on a property is calculated at the same percentage of its value as other properties: The county's equalization director confirmed that property values had come to a standstill, rising only 1.6% over a 12-month period.

› the process of making laws or treatment the same for all people or companies in a group or place: equalization of sth There are new rules which allow for the gradual equalization of pensions between men and women.

(Definition of equalization noun from the Cambridge Business English Dictionary © Cambridge University Press)

Focus on the pronunciation of equalization