betterment

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Betterment

1. In real estate, an increase in the value of a property because of an improvement near the property that makes it more desirable for potential buyers. For example, if a municipality builds a highway or a park near a house, this may result in betterment for the homeowner.

2. In accounting, an increase in the value of an asset because of some improvement that increases its efficiency or profitability.

betterment

An improvement to real estate.
References in periodicals archive ?
Property owners will be given the option to pay the full betterment amount, or make payments over the 10-year life of the loan, with 4 percent interest.
Loss of use interest in a tenant's improvement and betterments
A betterment is a special tax assessed when an improvement has increased the value of real property.
Based on final betterment numbers presented to the board last week by Public Works Director John Westerling, (SEE CORRECTION) the final bills for most users will be in the area of $50.
As a result, some residents in the Granite Street area, where new sewer construction is planned, are facing betterment assessments of as much as $20,000, he said.
Most residents who own property on the sewer line have already received an estimated betterment assessment of $5,000.
The statutes call for a betterment assessment on the underlying zoning, but a 40B is dense - more units are allowed than local zoning statutes dictate," said William J.
Property owners who did not receive an estimated betterment charge will be assessed the full betterment.
Residents questioned the change in the method of determining sewer betterment assessments to commercially zoned property.
Selectmen also debated whether to revise the policy on assessing sewer betterment fees, after a local business owner opening a carwash was assessed more than $100,000 to connect to the sewer system.
Town counsel Judith Pickett of Brackett & Lucas said, "You will have a legally binding order of betterment that is registered by deed .
While Buzanoski said her office has fielded calls from residents with questions on the betterment, she has not received any questions about the current construction itself.