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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.
1. attrition rate-the rate of shrinkage in size or number. rate of attrition. rate-a magnitude or frequency relative to a time unit; they traveled at a rate of 55 miles per hour; the rate of change was faster than expected.. attrition rate-the rate of shrinkage in size or number. rate of attrition. rate-a magnitude or frequency relative to a time unit; they traveled at a rate of 55 miles per hour; the rate of change was faster than expected.