Abatement

Abatement,

Definition of Abatement:

  1. Environment: Elimination or reduction of polluting or hazardous substances (such as asbestos) by either removing them completely or lessening their effect through better waste management.

  2. Abatement is a taxation strategy usually used by various governments to encourage specific activities, such as investments in capital equipment. A tax incentive, for example, is a type of tax abatement.

  3. Abatement is a reduction in, or an exemption of, the level of taxation faced by an individual or company. Examples of an abatement include a tax decrease, a reduction in penalties or a rebate. If an individual or business overpays its taxes or receives a tax bill that is too high, it can request an abatement from the tax authorities.

  4. Commerce: Reduction in the amount of a bill or charge such as demurrage, overtime penalty, or rent.

  5. (often in legal use) the ending, reduction, or lessening of something.

  6. Taxation: Rebate given in levies or taxes under special circumstances, such as in aftermath of natural disasters.

  7. Legal: Suspension of a court action, or bringing it to a close before the final decision.

Synonyms of Abatement

Subsiding, Dying away, Dying down, Dying out, Dropping away, Dropping off, Lessening, Easing, Easing off, Decrease, Diminishing, Moderation, Decline, Declining, Fade, Dwindling, Cooling off, Tailing off, Petering out, Tapering off, Wane, Waning, Ebb, Relenting, Desisting, Weakening, Abridgment, Agio, Allayment, Alleviation, Allowance, Analgesia, Anesthesia, Anesthetizing, Appeasement, Assuagement, Attenuation, Attrition, Bank discount, Blunting, Breakage, Calming, Cash discount, Chain discount, Charge-off, Concession, Contraction, Cut, Dampening, Damping, Deadening, Debilitation, Decrease, Decrement, Decrescence, Deduction, Deflation, Demulsion, Depreciation, Depression, Devitalization, Dilution, Diminishment, Diminution, Discount, Drawback, Dulcification, Dulling, Dying, Dying off, Ease, Easement, Easing, Effemination, Enervation, Enfeeblement, Evisceration, Exhaustion, Extenuation, Fade-out, Falling-off, Fatigue, Hushing, Inanition, Kickback, Languishment, Leniency, Lessening, Letdown, Letup, Lightening, Loosening, Lowering, Lulling, Miniaturization, Mitigation, Modulation, Mollification, Numbing, Pacification, Palliation, Penalty, Penalty clause, Percentage, Premium, Price reduction, Price-cut, Quietening, Quieting, Rebate, Rebatement, Reduction, Refund, Relaxation, Relief, Remedy, Remission, Rollback, Sagging, Salvage, Salving, Scaling down, Setoff, Simplicity, Slackening, Softening, Soothing, Subduement, Subtraction, Tare, Tempering, Thinning, Time discount, Trade discount, Tranquilization, Tret, Underselling, Weakening, Write-off

How to use Abatement in a sentence?

  1. The purpose of the abatement is to encourage development or economic activity within a city or community.
  2. The investor was able to secure a tax abatement for the historic apartment building, in exchange for promising to create affordable housing to veterans.
  3. When removing the siding from my old house I used abatement in choosing the proper disposal techniques for the asbestos materials.
  4. An abatement refers to a tax break offered by a state or municipality offered on certain types of real estate or business opportunities.
  5. Noise abatement.
  6. A real estate tax abatement may reduce a home's property taxes for a period of time, or may grant tax breaks to businesses.
  7. After Hurricane Katrina, an abatement was granted for the residents of New Orleans, this reduction of taxes offered some condolence for the citizens.

Meaning of Abatement & Abatement Definition