What does the term "equalized valuation" refer to in a taxing district?

Equalized valuation refers to the process of adjusting assessed property values within a taxing district to account for variations in assessment practices. This process ensures that properties are assessed fairly and uniformly across different municipalities or taxing districts.

The valuation certified by the Division of Taxation is based on the actual sales data and other relevant factors in the area, allowing for a reliable comparison of property values. It represents the level of assessment across a municipality, which is used to calculate tax rates and distribute state aid accurately.

The other options do not encapsulate the concept of equalized valuation effectively. The assessed value of all properties in a district does not reflect the adjustments made for disparities in assessments. The total income generated by taxes in a district relates to revenue but not to the equalization process of property values. Finally, the value determined by public voter approval pertains to specific measures such as bonding or funding initiatives, which is unrelated to the equalization of property valuations for tax assessment purposes.