abatement

noun
abate·​ment | \ ə-ˈbāt-mənt How to pronounce abatement (audio) \

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

accession, addition

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Examples of abatement in a Sentence

Recent Examples on the Web

Cleveland Mayor Frank Jackson and school district CEO Eric Gordon have objected to a request by Ohio City Legacy LLC, a subsidiary of Harbor Bay Real Estate Advisors, for the state agency to grant 30 years of tax abatements for the project. Robert Higgs, cleveland.com, "Ohio Gov. Mike DeWine opposed to state stripping tax abatement decisions from Cleveland on Ohio City project," 29 Aug. 2019 Authorized rent abatement for Citizens Business bank in the amount $80,850 to help cover the cost of HVAC improvements in the 2,672-square-foot tenant space currently under construction. Sara Cardine, La Cañada Valley Sun, "La Cañada City Council issues temporary ban on electronic message signs," 28 Aug. 2019 The Dallas City Council unanimously approved about $9.3 million in economic incentives last week, including a tax abatement that would save the company about $746,000 over a five-year period and up to $8.6 million in grants. Melissa Repko, chicagotribune.com, "Uber makes it official: It will set up major hub in downtown Dallas by end of year," 27 Aug. 2019 The Dallas City Council unanimously approved about $9.3 million in economic incentives last week, including a tax abatement that would save the company about $746,000 over a five-year period and up to $8.6 million in grants. Melissa Repko, Dallas News, "Uber makes it official: It will set up major hub in downtown Dallas by end of year," 20 Aug. 2019 Later, the city issued a lien for the cost of the abatement in the amount of $33,731.64. Bay City News, The Mercury News, "Lawsuit claims East Bay police harassed gay businessman. destroyed property unlawfully," 9 Aug. 2019 In August, James Kyle, Bitmain’s vice president of North American business development, appeared in front of county officials considering a tax abatement. Mark Dent, WIRED, "The Hard-Luck Texas Town That Bet on Bitcoin—and Lost," 11 July 2019 The Limestone County Commission has approved a property tax abatement valued at $80 million as part of the incentive package to lure Toyota-Mazda to north Alabama. AL.com, "Walmart's hiring, Airbus is selling, Bombardier's planning in today's business news," 18 Jan. 2018 Dallas County commissioners approved tax abatements Tuesday that will save Uber about $2.6 million over a 10-year period. Melissa Repko, Dallas News, "Uber makes it official: It will set up major hub in downtown Dallas by end of year," 20 Aug. 2019

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.

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First Known Use of abatement

15th century, in the meaning defined at sense 1

History and Etymology for abatement

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

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Dictionary Entries near abatement

abassi

abastardize

abate

abatement

abatis

abatised

abat-jour

Statistics for abatement

Last Updated

14 Sep 2019

Look-up Popularity

Time Traveler for abatement

The first known use of abatement was in the 15th century

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More Definitions for abatement

abatement

noun

Financial 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
abate·​ment | \ ə-ˈbāt-mənt How to pronounce abatement (audio) \

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
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 abatementU.S. Code

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Comments on abatement

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