AskDefine | Define betterment

Dictionary Definition

betterment

Noun

1 a change for the better; progress in development [syn: improvement, advance]
2 an improvement that adds to the value of a property or facility
3 the act of relieving ills and changing for the better [syn: amelioration, melioration]

User Contributed Dictionary

English

Noun

  1. an improvement
  2. an improvement to a property that adds to its value

Extensive Definition

Betterment, making better, is a general term used particularly in connection with the increased value given to real property by causes for which a tenant or the public, but not the owner, is responsible; it is thus of the nature of unearned increment. When, for instance, some public improvement results in raising the value of a piece of private land, and the owner is thereby bettered through no merit of his own, he gains by the betterment, and many economists and politicians have sought to arrange, by taxation or otherwise, that the increased value shall come into the pocket of the public rather than into the owner's. A betterment tax would be so assessed as to divert from the owner of the property the profit thus accruing unearned to him. The whole problem is one of the incidence of taxation and the question of land values, and various applications of the principle of betterment have been tried in the United States and in England, raising considerable controversy from time to time.

References

betterment in Spanish: Beneficio económico

Synonyms, Antonyms and Related Words

Privacy Policy, About Us, Terms and Conditions, Contact Us
Permission is granted to copy, distribute and/or modify this document under the terms of the GNU Free Documentation License, Version 1.2
Material from Wikipedia, Wiktionary, Dict
Valid HTML 4.01 Strict, Valid CSS Level 2.1