Meaning of “equalization” in the English Dictionary

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"equalization" in Business English

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equalizationnoun [ U ]

UK also equalisation uk /ˌiːkwəlaɪˈzeɪʃən/ us /ˌiːkwəlɪˈzeɪʃən/

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” from the Cambridge Business English Dictionary © Cambridge University Press)