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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. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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