Financial

abatement

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Abatement

A decrease in the amount one owes in taxes. Abatement may come from a tax cut, a rebate, or a reduction in penalties or interest one owes on previous taxes.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

abatement

A reduction or decrease.Local governments sometimes offer tax abatements to new businesses in order to attract them to the area.Commercial leases usually have clauses denying rent abatement if the leased property is partially destroyed and then rebuilt and made usable again.
The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
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References in periodicals archive
The Metropolitan Development Commission approved the tax abatement request for International, which employs a combined total of 1,873 employees at its two adjoining Indianapolis operations.
The Fumes-To-Fuel system represents significant benefits compared to traditional VOC abatement methods by:
(County of San Diego) addressed the responsibility of excess/umbrella carriers regarding costs associated with California Regional Water Quality Control Board remedial cleanup and abatement orders pertaining to soil and/or groundwater contamination.
Free public forums on the nature of lead abatement and financing were the primary method of attracting and informing people.
As builders and contractors don't typically own this necessary abatement equipment, this rental service will be a mutually beneficial and cost-saving business for customers.
In a footnote, the SJC acknowledged the theory that Hernandez had been aware of the doctrine of abatement ab initio and its potential financial implications for his family, "but, given our ruling, we need not, and do not, reach any conclusions in that regard, including as to the sufficiency of any such evidence," Cypher wrote.
Here are penalty abatement tips for failure-to file and failure-to-pay penalties:
To study the cost savings associated with the Acid Rain Program, which allowed such trade, the authors model the cost of abatement for individual coal-fired power plants.
Definition of a tax abatement. For purposes of GASB Statement No.
77, Tax Abatement Disclosures, requires governments to disclose information about their own tax abatements separately from information about tax abatements that are entered into by other governments and reduce the reporting government's tax revenues.
Birmingham City Council brought action against Vincent Caines for two offences of failing to comply with a noise abatement notice.
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