base year

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Base Year

The year against which the performance of an index is measured. For example, suppose the base year is 2001 and the initial value of an index is 100. If the index is 150 in 2009, it means that the value of the index is 50% higher in 2009 than it was in 2001. It is also called the reference year. See also: Base Value.

base year

the initial period from which a system of INDEXATION proceeds. For example, the present UK Consumer Price Index has as the base period 1996 = 100, with the average price of a typical basket of goods in 1996 being taken as the basis for the index. The 2004 index number was 111 for all items in the basket of goods. Convention dictates that the base period always commences from the number 100. See PRICE INDEX.

base (expense) year

In commercial leases, the year used as a measure of a tenant's obligation to pay the pro rata share of ever-increasing building expenses over time.The rent for the first year is usually calculated by the landlord so as to pay currently known building expenses and provide a profit. This is usually the base year. As expenses increase over time, the amount they exceed the expenses of the base year is the figure the landlord uses to calculate the tenant's pro rata share of the expenses.

References in periodicals archive ?
The NCSI expenses and houseA[degrees] hold income survey also reveals shifts in the pattern of consumer spending for families in major and sub groups in 2012, when comA[degrees] pared to the pattern of consumpA[degrees]tion during the previous base year of 2000.
Ten of the twelve member states which joined the EU in 2004 and 2007 have individual commitments under the Protocol to reduce their emissions to 6% or 8% below base year levels by 2008-2012.
With the advancement of the base year and probably a revision of commodities in the index and their weights, it is expected that the index would provide a better picture of the current scenario of prices.
The tenant on the other hand will want a base year in which occupancy and taxes are high so that a reduction in taxes as a result of a softening market will effectively lower their real estate tax burden.
Emitters who have done nothing to reduce their GHG emissions would be put at an advantage by a government that sets 2000 as a base year for reductions, he explains.
We will focus on the base year provisions of the BBA and advise providers to explore potential opportunities - possibly still available to them - to significantly increase their Medicare payments during the transition period by revising their base year cost reports.
The revisions to NIPA included new and revised source data, new methodological procedures, the new chain-weighted methodology for reporting real output and its components, and an updated base year.
The aggregate industry data released on the reports is in the form of an index, with the base year 1991 equal to 100.
For each of these recessions and recoveries (with the exception of the recovery following the 1980 recession), we examine the changes in GNP and some of its principal subaggregates expressed in terms of 1987 prices and expenditure weights and the prices and weights of the BEA base year closest to the event.
The UMWA index was applied to the 1981 base year to compute the "but for" price.
861-10(e)(3)(iv)) for the year, the relevant debt-to-asset ratio for any base period year may not exceed 110 percent of the relevant base period ratio for that base year.