Police Power

Police Power
Police power refers to the inherent power of governments to impose restrictions on private rights that are reasonably related to the promotion and maintenance of the health, safety, morals, and general welfare of the public.
Taking
The acquisition of private property for public use under the power of eminent domain and the restrictions under police power that may preclude reasonable use of the property.
Zoning
Zoning is a legislative action, often at the municipal level, that divides municipalities into districts to regulate the use of private property and the construction of buildings within these established zones. Zoning is part of the state's police power and must further the health, morals, safety, or general welfare of the community.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.