abatement

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noun abate·ment \ə-ˈbāt-mənt\
Updated on: 26 Jul 2017

Definition of abatement

  1. 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. 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

Recent Examples of abatement from the Web

These 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.

Origin and Etymology of abatement

Middle English, borrowed from Anglo-French, from abatre “to abate” + -ment -ment


Financial Definition of ABATEMENT

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.


Law Dictionary

abatement

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noun abate·ment \ə-ˈbāt-mənt\

Legal Definition of abatement

  1. 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. 2 :  an amount abated :  deduction; especially :  a deduction from the full amount of a tax

in abatement

  1. :  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 abatementU.S. Code





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