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Tax Abatement

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Tax Abatement
A reduction of taxes for a certain period or in exchange for conducting a certain task. For example, if one receives a tax credit for purchasing a house, one receives tax abatement because one pays less in taxes than he/she otherwise would. A sales tax holiday is another instance of tax abatement. Tax abatement represents a reduction of government revenue and therefore may add to a deficit.


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The SunÕs David McGrath Schwartz followed up Wednesday with a story quoting newly appointed state energy commissioner Hatice Gecol as saying that backers of green energy projects will be able to apply for tax abatements sooner than originally anticipated.
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Tax abatement bill moves to Statehouse SPENCER - A bill filed by State Rep.
 
 
 
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