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18:58 Sep 27, 2017 |
Dutch to English translations [PRO] Law/Patents - Real Estate | |||||||
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| Selected response from: Michael Beijer United Kingdom Local time: 13:21 | ||||||
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Summary of answers provided | ||||
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5 +2 | betterment tax/levy |
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Summary of reference entries provided | |||
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If one Googles the term. |
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Discussion entries: 1 | |
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baatbelasting betterment tax/levy Explanation: betterment tax (in British)(noun): a tax on an increase in the value of property effected by improvement src: Collins English Dictionary. Copyright © HarperCollins Publishers (https://www.collinsdictionary.com/dictionary/english/betterm... ) ***************************** "What is a Betterment Tax? By Mike Parker New road construction in your neighborhood might result in a betterment tax levy. Real estate taxes are just another part of owning a home or business. The revenue generated by real estate taxes helps pay for local and state government operations and benefits the general population. Your local government might also levy a betterment tax against your real estate, but this tax is typically dedicated to specific projects and is not spent on the general budget. Improvement A "betterment" is a specific type of project performed by a government entity that improves a specific area. Projects that qualify as improvements will depend on the taxing jurisdiction. Examples of improvements might include new roads or sidewalks in a particular neighborhood. Repairing an existing road or maintaining an existing sidewalk are typically not considered improvements and would not usually result in a betterment tax assessment." (http://budgeting.thenest.com/betterment-tax-23806.html ) ***************************** "Is 'betterment levy' a good idea? It's an arbitrary revenue collection measure A betterment levy is a tax that the state collects on a plot of land that its actions have in some way made 'better'. For instance, if building roads, metros or airports with public money leads to an appreciation in land prices in the vicinity of these projects, then landowners enjoy a windfall gain. The proponents of a betterment levy argue this gain should be taxed much like winning a lottery (a purely speculative activity). Attractive and logical as it may sound, the idea has several problems and worrying implications. First, if there should be a 'betterment levy' should there also be a 'worsening subsidy'?" (http://economictimes.indiatimes.com/articleshow/2124438.cms?... ) ***************************** "Betterment […] In real estate, betterment (making better) is 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.[1] Prevention of real-estate bubbles Germany managed to prevent a real-estate bubble when all others have experienced it thanks to its 10 years at length and 50% at valuation real-estate betterment tax: the German Betterment-Tax Law. Speculators are the main driver of real-estate bubbles. They borrow fiat money from the banks and invest it whenever they think the market can still go up. There's no effective limitation on how much money they can borrow or on how much the banks can lend them. This is a clear example of how prices are detached from actual need for the underlying asset. Speculators typically invest when the market is low, thus holding down the speculators for the entire duration of the economic cycle, of at typically 10 years, forces them to pay interest on that money throughout that period and further during the following up-cycle i.e. at least 15 years altogether. This impediment keeps the real-estate market stable at affordable prices." (https://en.wikipedia.org/wiki/Betterment ) -------------------------------------------------- Note added at 20 hrs (2017-09-28 14:59:45 GMT) -------------------------------------------------- "Baatbelasting (art. 222 Gemw): gemeentebelasting, gedurende ten hoogste dertig jaar geheven van onroeren-de zaken die door gemeentelijke werken zijn gebaat." (Fockema Andreae's Juridisch Woordenboek)(just arrived via Amazon ;-) Example sentence(s):
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2 hrs peer agreement (net): +3 |
Reference: If one Googles the term. Reference information: https://www.proz.com/kudoz/dutch_to_english/government_polit... Jun 18, 2010 - (KudoZ) Dutch to English translation of baatbelasting: betterment levy [Government / Politics (Law/Patents)]. Jurlex today: baatbelasting betterment levy (for recouping costs of servicing and infrastructure Fel: baatbelasting betterment levy [property] in het nederlands: http://www.encyclo.nl/begrip/Baatbelasting etc. |
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