what is an equalization rate
The equalization rate is equal to a town or cityâs total assessed property value divided by its total market value. The assessed value is determined by Mount Kisco, Palmer explained, while New York state determines the total market value.ince Mount Kisco is getting slammed this year, with Westchester County taxes set to increase by the upper single digits â Bedford school taxes could go up by double digits â Village Manager James Palmer at a recent Board of Trustees meeting what the equalization rate is and what it means for Mount Kisco.
Definition. Process by which a taxation authority (such as a state or municipality tax board) tries to ensure that all taxable property under its jurisdiction is assessed for property taxes at the same percentage of its market value.This percentage is called equalization rate.efinition. Process by which a taxation authority (such as a state or municipality tax board) tries to ensure that all taxable property under its jurisdiction is assessed for property taxes at the same percentage of its market value.