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.
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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.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
"Gujarat (continues) to hold on to its rank one in the reference year (2017-18), followed by Andhra Pradesh, Madhya Pradesh, Goa, Karnataka and Tamil Nadu," the release said.
If the performance condition has been met, the funds say, Argentina would likely have to pay more than US$2 billion in relation to the securities for the reference year.
The reference year for the three countries ahead of the Philippines is 2009.
The reference year changes to 2015 from the CPI for July 2016 that will be published in August 2016.
The chained-dollar values for the detailed GDP components will not necessarily sum to the chained-dollar estimate of GDP (or to any intermediate aggregate) in a table, because the relative prices that are used as weights for any period other than the reference year differ from those of the reference year.
Mitsubishi and Toshiba contested this decision in front of the EU cour, which in turn upheld the Commission's finding that Mitsubishi and Toshiba were in infringement, but not the method used to calculate these fines, stating that the Japanese producers had not been treated in the same way as the European producers since the Commission had used a different reference year for Mitsubishi Electric and Toshiba (2001), and for European enterprises (2003 - see Europolitics 4241).
1280) measured 20 PCB congeners in serum from surgically confirmed endometriosis cases newly diagnosed between 1996 and 2001 and from female controls matched for age and reference year. The authors conclude that non-coplanar PCB concentrations at levels measured in women from western Washington State do not contribute meaningfully to endometriosis risk.
On average, energy consumption decreased by more than 30% compared to reference year 1998.
One year on from its announcement that it would cut its global carbon footprint by 20 per cent a year against the reference year 2007, the bank has made further significant progress in neutralising its carbon emissions.
The Statistical Service reported that the national accounts data for the year 2007 have been revised on the basis of the final results from the economic surveys for the reference year, while the revised data for the year 2008 is based on the most recently available indices.
With countries continuing to announce mid-term emission reduction targets in the ongoing United Nations talks for a new climate treaty, the reference year they use when disclosing their goals is as much a political as a technical matter.
The reference year used to calculate the amount to be integrated will be 2008.