abatement
noun
\
Definition of abatement
Keep scrolling for more
Synonyms & Antonyms for abatement
Synonyms
deduction, discount, reduction
Antonyms
Visit the Thesaurus for More
Examples of abatement in a Sentence
Recent Examples on the Web
The project received a favorable recommendation from a tax abatement advisory board Wednesday. — Bill Turque, kansascity, "KC Council defines affordable housing rents (and it's not $2K a month) | The Kansas City Star," 24 May 2018 The store would get 1 cent of the fee and the remaining 4 cents would go to a fund that would help pay for lead abatement in schools and communities. — Frank Kummer, Philly.com, "N.J. poised to impose 5-cent fee on plastic bags, so why aren't environmentalists happy?," 22 June 2018 Residential owners on Beacon and Concord will also be eligible for abatement on improvements that increase home values. — Jeff Piorkowski/special To Cleveland.com, cleveland.com, "Beachwood adds new 'tool' to help attract, retain business; new law director hired," 3 Apr. 2018 The company was getting a 67-acre site free of charge, a graduated five-year tax abatement and $3 million a year in incentives from the state. — Joe Barrett, WSJ, "Minnesota Town’s Shrimp-Farming Dreams Are Put on Ice," 10 Jan. 2019 That's largely due to abatement efforts and awareness that lead is so toxic. — Kristen Jordan Shamus, Detroit Free Press, "Study: Flint children's blood lead levels hit historic low in 2016," 26 Mar. 2018 Last week, the Common Council launched an investigation into the Milwaukee Health Department and its management of the city's lead abatement efforts. — Mary Spicuzza, Milwaukee Journal Sentinel, "Thousands of letters sent to Milwaukee families as lead-testing hotline goes live," 22 Jan. 2018 If your popcorn ceiling contains asbestos, hire a licensed asbestos abatement company to scrape the ceiling clean. — Joseph Truini, Popular Mechanics, "How to Remove a Popcorn Ceiling," 25 Jan. 2019 Consider what mold abatement entails first, as the off-gassing chemicals involved can be harmful. — Jennifer Fernandez, House Beautiful, "6 Nursery-Decorating Mistakes To Avoid For Your Baby’s Health," 19 Dec. 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.
Keep scrolling for more
Keep scrolling for more
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
Keep scrolling for more
Comments on abatement
What made you want to look up abatement? Please tell us where you read or heard it (including the quote, if possible).
Test Your Vocabulary
Original Meanings Quiz
-
- Which of the following is the earliest known sense of the word awe?
Can you spell these 10 commonly misspelled words?
TAKE THE QUIZ
Test Your Knowledge - and learn some interesting things along the way.
TAKE THE QUIZ
Share abatement
Resources for abatement