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 ?
A betterment is a special tax assessed when an improvement has increased the value of real property.
The betterment divides the water infrastructure debt among all the abutters.
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.
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.
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, with town counsel weighing in, said the town is completing betterments for all properties.
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.
"According to state law, you cannot assess a betterment beyond the value of the improvement to a property," said Sewer Commission Chairman William J.