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Business Definition for: improved land
Dictionary of Business Terms
improved land

land that has been partially or fully developed for use. Any of the following activities on a piece of raw land will result in improved land: landscaping and grading; installation of utilities; construction of roads, curbs, or gutters; and construction of buildings.

See also improvement
Dictionary of Real Estate Terms
improved land

land that has some improvements. Land that has been partially or fully developed for use.

Example: Any of the following activities on a piece of raw land will result in improved land:

  • landscaping and grading
  • installation of utilities
  • construction of roads, curbs, and/or gutters
  • construction of buildings

Related Terms:
improvement

capitalized expenditure usually extending the useful life of an asset or improving it in some manner over and above the original asset. Thus if an expenditure adds years to an asset or improves its rate of output, it would be considered an improvement that is capitalized. In contrast, a maintenance or repair expense is not capitalized.

Copyright © 2007, 2000, 1997, 1987, by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
 Copyright © 2004, 2000, 1997, 1993, 1987, 1984 by Barron's Educational Series, Inc. Reprinted by arrangement with Publisher.
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