bettermentˈbɛt ər mənt
English Definitions:
improvement, betterment, advance (noun)
a change for the better; progress in development
betterment (noun)
an improvement that adds to the value of a property or facility
amelioration, melioration, betterment (noun)
the act of relieving ills and changing for the better
betterment (Noun)
An improvement.
betterment (Noun)
An improvement to a property that adds to its value.
Betterment
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 assessed in order 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.
Betterment
In real estate, betterment is the increased value of real property from causes other than investment made by the property owner. It is, therefore, usually referred to as unearned increment or windfall gain. When, for instance, a property is rezoned for higher-value uses, or nearby public improvements raise the value of a piece of private land, a property owner is "bettered" due to the actions of others. Because of this, capturing the value of betterment for the public through taxation or other means is a common policy approach.
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"betterment." Kamus.net. STANDS4 LLC, 2024. Web. 29 Mar. 2024. <https://www.kamus.net/english/betterment>.
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