Board of Equalization
Definition and meaning of Board of Equalization in real estate.
A board of equalization is a public government body charged with ensuring that property tax assessments are fair, uniform, and equal across a jurisdiction.
In more detail
This board reviews the valuations made by local assessors to prevent unequal tax burdens among property owners. The equalization process is necessary because different local assessors may use varying methods or schedules to value real estate. The board has the authority to adjust assessments up or down to bring them in line with real market values.
For property owners, this board often serves as the official venue to appeal property tax valuations. If a homeowner believes their property tax assessment is too high compared to similar homes in the area, they can present evidence to this board to request a reduction.
Key facts
| Category | Legal, Titles & Closing |
|---|---|
| Primary function | Adjusts property tax assessments to ensure regional uniformity |
| Scope of authority | Varies by state, operating at county or state levels |
| Owner benefit | Provides a formal appeal process for disputed property valuations |
A homeowner appeals their property tax assessment to the county board of equalization, presenting a recent independent appraisal to prove their home was overvalued.
Frequently asked questions
Can a board of equalization raise property taxes?
Yes, if the board finds that properties in a specific area are under-assessed compared to others, it can order a blanket increase in valuations.
What evidence should I bring to a property tax appeal hearing?
Homeowners should bring recent appraisals, sales data of comparable homes in the neighborhood, and photographs showing damage or defects that lower the property value.