Substantially improved definition
Substantially improved means that the cost of the improvements to a project is equal to or exceeds 50 percent of the assessed value of the property, excluding the land, prior to such improvements.
Substantially improved means any reconstruction, rehabilitation, addition or other improvement to a structure, the total cost of which equals or exceeds 50 percent of the market value of the structure before the start of construction of the improvement
Substantially improved means that the cost of the
More Definitions of Substantially improved
Substantially improved means that the cost of the improvements is equal to or
Substantially improved means any reconstruction, re- habilitation, addition, or other improvements of a structure, the cost of which equals or exceeds 50% of the market value of the structure before the “start of construction” of the improvement. This term includes structures which have incurred “substantial damage”, regardless of the actual repair work performed.
Substantially improved means any remodeling, repair, reconstruction or improvement of a structure, the cost of which equals or exceeds fifty percent of the fair market value of the property either as such value exists before the improvement is started or if the property has been damaged and is being restored, as such value existed before the damage occurred.
Substantially improved means any remodeling, repair, reconstruction or improvement of a structure, the cost of which equals or exceeds fifty percent (50%) of the fair market value of the property either:
Substantially improved means any combination of repairs, reconstruction, alteration or improvements of a structure in which the costs equal or exceed 50% of the market value of the existing structure before the start of construction of the improvement.