The assessment ratio, which is used to convert the value of property to the assessed value, can also be considered Equalization Rate.
The equalization rate is the ratio of the total assessed value (AV) to a municipality's total market value (MV).
The equalization rate is a measurement of a municipality's level of assessment (LOA) by the state.
This implies that the municipality determines the AV while the state determines the MV.
Thus, the assessment ratio, which is used to convert the value of property to the assessed value, can also be considered Equalization Rate.
Learn more about the equalization rate at https://brainly.com/question/5428406
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