abatement
noun
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Definition of abatement
1 : the act or process of reducing or otherwise abating something abatement of pollution : the state of being abated a storm continuing without abatement [=without weakening]
2 : an amount abated especially : a deduction from the full amount of a tax … devised tax credits, refunds, and abatements to benefit private corporations … — William Greider
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Synonyms & Antonyms for abatement
Synonyms
deduction, discount, reduction
Antonyms
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Examples of abatement in a Sentence
Recent Examples on the Web
The trial judge later set the tentative amount the companies must pay at $409 million, a figure designed to cover the cost of inspection and abatement in more than a million homes built before 1951. — Greg Stohr, The Seattle Times, "Supreme Court rejects lead-paint makers’ appeals in $400 million case," 15 Oct. 2018 Most new condos in Long Island City have abatements but some newer ones don’t. — Josh Barbanel, WSJ, "Long Island City Condos Catch Eye of Investors Cooling on Manhattan," 14 Oct. 2018 The temporary restraining order is part of a nuisance abatement suit filed Wednesday by the DA's office. — Brian Rogers, Houston Chronicle, "Houston Bombshells bar banned from selling booze, dubbed 'crime factory'," 6 June 2018 Another top candidate, Dallas, has a lower cost of living and public-private partnership incentives, in the form of tax abatements, grants, infrastructure cost sharing and other methods to offset project and operational costs. — Shayndi Raice, WSJ, "Amazon Plans to Split HQ2 Evenly Between Two Cities," 5 Nov. 2018 The Chicago Department of Streets and Sanitation told the Chicago Tribune the agency received 42,670 requests for rodent abatement from residents in 2017. — Travis Fedschun, Fox News, "Chicago named 'rat capital' of the country amid rodent complaint spike," 22 July 2018 In addition, the health department essentially stopped overseeing lead risk abatements, which plummeted from 12 in 2013, to three a year in 2014 and 2015, to none at all in 2016 and 2017. — Ahmed Elbenni, Milwaukee Journal Sentinel, "Mayor Tom Barrett has nominated a new Health Department commissioner. Here are the problems facing the agency," 12 July 2018 Were Three Light built without the abatement, city officials estimate that Cordish would be obligated to pay $12.5 million. — Bill Turque, kansascity, "With misgivings, KC Council approves tax breaks for Three Light," 21 June 2018 And taxes also vary somewhat depending on what part of the city a homeowner lives in, as some neighborhoods have added property taxes for local improvements, security, mosquito abatement, home equity assurance or mental health treatment. — Hal Dardick, chicagotribune.com, "Average Chicago homeowner to pay $110 more in property taxes this year," 20 June 2018These example sentences are selected automatically from various online news sources to reflect current usage of the word 'abatement.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
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More Definitions for abatement
abatement
nounFinancial Definition of abatement
What It Is
An abatement is a reduction in a tax rate or tax liability.
How It Works
Property taxes are a common subject of abatement (though the term is often used when discussing overdue debt). For example, John Doe owns a house and owes $4,000 in property taxes for the year. John's house is very old, and he is able to have it added to the National Register of Historic Places because Thomas Jefferson once slept there. As a result, the county gives him an abatement, reducing his taxes to only $500.
Why It Matters
Municipalities often grant abatements to incent people to do certain things with property: take action to revitalize a struggling neighborhood, restore a historic place, operate a business or nonprofit organization, or conduct another activity that improves the community as a whole.
Source: Investing Answers
abatement
noun
\
Legal Definition of abatement
1 : the act or process of abating or the state of being abated challenged the abatement of her bequest abatement of a private nuisance by self-help— W. L. Prosser and W. P. Keeton
2 : an amount abated : deduction especially : a deduction from the full amount of a tax
: subject to termination because of a formal or procedural defect there shall be no reversal in the Supreme Court…for error in ruling upon matters in abatement — U.S. Code
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