Equalization Rate
NYS Office of Real Property Tax Services explains that equalization rates are computed by dividing total assessed value of taxable real property by estimated total full value in a municipality and are used by law to apportion taxes across jurisdictions that cross municipal boundaries. Equalization rates are NYS's independent measure of a municipality's level of assessment and do not measure internal uniformity.
- Where it applies
- New York State
- When it comes up
- Tax allocation; appeals context; underwriting
- Property types
- NYS property tax analysis (outside NYC particularly); cross-municipality tax apportionment
Read more in the Knowledge Base
Property Tax and Assessment (NYC)
- (ORPTS)
- Assessed Value (NYC)
- Assessment Ratio (Level of Assessment)
- Market Value (NYC Assessment Context)
- Notice of Property Value (NOPV)
- Tax Class (NYC)
- Taxable Value (NYC)
- Transitional Assessed Value
General information, not legal, tax or financial advice.