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Legal Definitions - increment
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Definition of 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.
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Simple Definition
Term: INCREMENT
Definition: Increment means an increase in something, like the number of things or the value of something. For example, if you have 5 apples and you get 2 more, the increment is 2. Incremental means happening in small steps or amounts. Unearned increment means an increase in the value of land or property because more people want to live there.
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