A leveling valve for discharging and supplying air from and to a plurality of utilization elements comprises a valve disc arrangement configured to direct air between a source of pressurized air, an exhaust port, and the utilization elements. The valve disc arrangement comprises a first and a second valve disc, which are rotatable with respect to each other such that the valve is switchable between multiple switching positions, and, in some switching positions, either the source of pressurized air or the exhaust port are in fluid communication with the utilization elements. The valve discs provide a stepped increase in flow cross-section in a respective flow path to or from the utilization elements. The stepped increase is dependent on the angle of rotation between the valve discs.