equal·i·za·tion \ˌēkwələ̇ˈzāshən, -ˌlīˈz-\noun (-s) : the act of equalizing or the state of being equalized < equalization of conditions of employment in agriculture and industry > < equalization of brake pressure on all wheels > specifically: the adjustment of the tax valuation of property so as to make the tax burden in different districts proportionate to the value of the taxable property in the district