Legal Definitions - increment

Definition: Increment refers to a unit of increase in quantity or value. It can be used to describe an increase in the value of real property due to population growth.

Example: If the value of a house increases by $10,000, that $10,000 is considered an increment.

Explanation: The example illustrates how an increment refers to an increase in value. In this case, the value of the house increased by $10,000, which is considered an increment.

Additional Example: A company's revenue increased by 5% this year. The 5% increase is an increment.

Explanation: This example shows how an increment can also refer to an increase in quantity. The company's revenue increased by 5%, which is considered an increment.