Definition
This is the tax levyThe total amount of property tax money that a taxing unit (such as the schools, city, county, etc.) needs to raise to provide services. divided by the equalized valueThe full market value of all taxable property in a municipality, both real and personal. The equalized value is determined by the Department of Revenue each year. (base) and is used for comparing tax rates between different communities and for determining the tax rates applied to overlapping jurisdictions such as Milwaukee County.