base year

(redirected from Base Years)
Also found in: Encyclopedia.

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 IIP captures Japan's production, shipment and inventory trends in the form of an index with the base year being 100.
Change of base year to calculate macro-economic indicators area normal activity which is periodically undertaken.
The main types of GHG targets are set with respect to a base year scenario in the past, a baseline scenario in the future, or a base (historical) year emissions intensity objective (generally with the goal of reaching a lower Emissions to GDP ratio).
NCSI will pubA[degrees]lish December 2013 indicators based on the two base years (2000A[degrees]2012) in the monthly publication which will be issued in January 2014
Stops and Base Years invariably have verbiage identifying those charges which are to be excluded from consideration as permitted operating expenses.
[1.2] Specifically, these analyses are based on matched observations on white men and white women who were wage workers in one year (the base year) and either self-employed or employed in the wage sector in the following year.
As shown in Table 1A, when base years close to the dates of the recessions are used to evaluate the data, in terms of GNP decline, at 1.6 percent, the 1990-91 recession was three-fifths as deep as the 2.6 percent average GNP fall of the preceding six.
[Section] 1.861-10(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. TEI recommends that the mechanics of this rule andits application to particular years be clarified.
Awarded pricing shall remain fixed for the Base Year Period (Base Years 1-3).
* Although delaying an accumulation distribution until 1995 allows a potentially higher marginal rate year (1994) to enter the five base years of the throwback calculation, it may not increase the beneficiary's tax.
The study showed that the proportion of household spending for food items within the index stood at 27 per cent in 2000, versus 24 per cent in the new base year 2012.