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The equalization rate is equal to a town or cityâs 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.
------------------------------------------------. =. equalization rate. Total market value of municipality. Equalization rates are percentages. For example: 1  Equalization rate = 100. 2  Town is assessing property at 100% of market value. 3  Most likely a reassessment was conducted in recent years.4  Your property's assessment should be roughly its market value (the price for which you could sell your property). The lower the equalization rate, the longer it has probably been since the last reassessment. 2  Equalization rate of 43 means overall property in the town is assessed at 43% of market value. 3  Overall property in the town is assessed higher than market value.