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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Recent Examples of abatement from the Web
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AKRON, Ohio - Akronites who built new homes or made qualifying renovations since April 24 can now apply for Akron's residential tax abatement program.
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For about a decade, the tax abatements and legal loopholes that Trump was able to finesse came about, in large part, because of Cohn.
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Surface Shields, which would make more than $700,000 in investments in the building and equipment, is seeking a 50 percent property tax abatement for four years from Tinley Park, according to the document.
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Under the initiative, the Department of Health and Mental Hygiene and the Department of Housing and Community Development will work together to expand lead identification and abatement programs.
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Spring Venture Group has not yet signed a lease for the building at 120 W. 12th St., but Fitts told the committee the 12-year property tax abatement would help pave the way for that move.
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For about a decade, the tax abatements and legal loopholes that Trump was able to finesse came about, in large part, because of Cohn.
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At best, warnings result in nothing more than a temporary abatement (which is what the study measured) and usually make matters worse over time.
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And as Donald Trump’s Hyatt rose, so too did the hidden hand of his attorney Roy Cohn, always there to help with the shady tax abatements, the zoning variances, the sweetheart deals, and the threats to those who might stand in the project’s way.
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Other Legal Terms
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
playLegal 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
in abatement
: 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
Learn More about abatement
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See words that rhyme with abatement Thesaurus: All synonyms and antonyms for abatement Nglish: Translation of abatement for Spanish speakers Britannica English: Translation of abatement for Arabic speakers Britannica.com: Encyclopedia article about abatement
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