abatement


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Related to abatement: asbestos abatement, Tax abatement, Abatement Cost

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.

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.
References in periodicals archive ?
A tax abatement results from an identifiable agreement (not necessarily in writing or legally enforceable) in force prior to the abated taxes whereby the government promises to reduce a specific individual's or entity's tax liability in return for the latter's promise to take certain actions.
The types of commitments made by tax abatement recipients; and
The Vendor Must Be An Asbestos Abatement Consultant Certified By The Rhode Island Department Of Health; And Must Be, Or Be Affiliated With A Testing Laboratory Certified By The Rhode Island Department Of Health.
After the taxpayer has paid the penalty, the taxpayer can request a refund using Form 843, Claim for Refund and Request for Abatement.
Although the co-op/condo abatement and J-51 programs were modified in ways that were not completely satisfactory, we are pleased that these two programs will continue to be available.
The percentage of abatement applications that have been approved compared to those that have been denied has been pretty consistent since assessors began reviewing the abatement applications in June.
As a result of the weakening market, Canco was awarded an even more lucrative tax abatement arrangement by the City Council in Jersey City.
The dust abatement services will cause road closures and delays.
Receiving the eight-year property tax abatement on the $83 million in new machinery and other equipment will save the company more than $4 million over the life of the abatement.
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.
But mosquito abatement officials say that, before scheduling an election, they want an indication property owners are interested.