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 ?
The betterment divides the water infrastructure debt among all the abutters.
Water-Sewer Commissioner Joseph Haebler said the town is assessing 50 percent of betterment now with the balance due at a later, undermined date.
Residents who paid the betterment in full can expect a refund.
Q: Why did I receive this final sewer betterment letter from the town?
Homeowners who live on private streets that are made public can spread out that betterment assessment over 20 years, at 5 percent interest.
The final betterment assessment will be between $12,000 and $13,000 per unit.
There are still a few costs that have not been added to the final total, hence the delay in the issuance of a final betterment assessment.
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.
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.
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.
According to state law, you cannot assess a betterment beyond the value of the improvement to a property," said Sewer Commission Chairman William J.