What is a key responsibility of the Board of Equalization?

The key responsibility of the Board of Equalization is to ensure equality in assessment. This function is crucial as it involves monitoring and evaluating how properties are assessed for tax purposes, ensuring that all property owners are treated fairly and equitably under the law. The role of the Board is to review property tax assessments, making necessary adjustments to maintain a consistent standard across all properties. By doing so, they help prevent discrepancies that could arise from varying assessment practices, which can lead to unequal tax burdens among property owners.

In contrast, while adopting regulations for real estate is part of the broader regulatory framework, it is not the primary focus of the Board of Equalization. Conducting real estate transactions and licensing real estate operators are responsibilities typically managed by different entities, such as real estate commissions or regulatory boards specifically focused on licensure and transactions, rather than assessment equality. Thus, the Board of Equalization's main objective remains centered on maintaining fairness and consistency in property tax assessments.