equalization Meaning in the Cambridge English Dictionary

Meaning of “equalization” in the English Dictionary

"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 ​localtaxauthoritytries 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 ​directorconfirmed that ​propertyvalues 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)
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“equalization” in Business English

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