Fractional Basis: Each property in the improvement district is charged a prorated share of the total amount of the special tax assessment. The share is determined either on a fractional basis (four houses may equally share the cost of one streetlight) or on a cost-per-front-foot basis (wider lots incur a greater cost than narrower lots for street paving and curb and sidewalk installation).

 

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Fractional Basis: Each property in the improvement district is charged a prorated share of the total amount of the special tax assessment. The share is determined either on a fractional basis (four houses may . . . View Full Definition

Fractional Discretion Order: Refers to the practice of institutional investors trading large blocks of securities directly to avoid brokerage commissions. See: Instinet.

Fractional Distillation: A technique for separation of liquid mixtures by distillation that uses a tower attached to a flask containing the mixture to perform multiple distillations. Vapor moving up the column conde . . . View Full Definition

Fractional Ownership: Timeshare ownership of two or more weeks at the same resort during a calendar year. Generally defined as ownership in intervals of more than one week and less than whole ownership. 'Fraction . . . View Full Definition