Equalization is the adjustment of assessed property values in a taxing district in order to align the values with assessment values in nearby taxing districts. The concept is usually applied within counties to adjust for assessment values in other counties in the same state. By engaging in equalization, taxpayers will pay their fair share of the state tax. For example, property in a taxing district that is assessed at 75% of its market value would be adjusted relative to other districts that assess their property at 60% of market value.