Amortization Period Law and Legal Definition
Amortization period refers to the period of time for economic recovery of the net investment in a project.
An amortization period is the lesser of:
a. the period of time over which the plan can be expected to serve a useful purpose; or
b. the period of time when further discounting of beneficial and adverse effects will not appreciably influence design.
The following is an example of a case law on amortization period:
Where there is no showing of disparate treatment of similarly situated property owners, an amortization ordinance and an ordinance establishing an amortization period for a property does not violate the Equal Protection Clause. [AVR, Inc. v. City of St. Louis Park, 585 N.W.2d 411 (Minn. Ct. App. 1998)].
