Boolean formula balancing in $\mathsf{AC^0}$
I am not sure if this is very relevant but in Log-Space Algorithms for Paths and Matchings in k-Trees (building on a long history of past work and specifically on Arithmetizing classes around NC1 and L by Limaye-Mahajan-Rao) we show how to find recursive balanced separators for a tree in Logspace. This bound may very well be improvable to $\mathsf{NC}^1$ if the input tree is directly given in the string representation.

The basic idea is to represent the tree as a parenthesis expression and find balanced separators for these. Notice that we find leaf separators i.e. subtrees which are balanced w.r.t. number of leaves.