abatement

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In general: lessening or reduction.


Law: either a termination or a temporary suspension of a lawsuit. An abatement of taxes is a tax rebate or decrease.

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A reduction in amount or intensity. Usually applies to decrease in taxes or rent.


Example: A manufacturing plant may install equipment for pollution abatement.


Example: Tenants may ask for an abatement in rent over a period when their use of the property has been interrupted or inhibited by actions of the landlord, such as renovation of the structure.


Example: The city of Hicksville offered ABC Industries an abatement of property taxes for 10 years if the firm would relocate its plant to Hicksville.

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noun

1. The act or process of decreasing: curtailment, cut, cutback, decrease, decrement, diminishment, diminution, drain, reduction, slash, slowdown, taper. See increase/decrease.
2. The act or process of becoming less active or intense: ebb, letup, remission, slackening, subsidence, wane. See increase/decrease.
3. An amount deducted: deduction, discount, rebate, reduction. See increase/decrease.

n

Definition: decrease
Antonyms: increase

n

Definition: lessening
Antonyms: intensification

n

Definition: subsiding
Antonyms: intensification

The wastage of wood when lumber is sawed or planed to size.

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This entry contains information applicable to United States law only.

A reduction, a decrease, or a diminution. The suspension or cessation, in whole or in part, of a continuing charge, such as rent.

With respect to estates, an abatement is a proportional diminution or reduction of the monetary legacies, a disposition of property by will, when the funds or assets out of which such legacies are payable are insufficient to pay them in full. The intention of the testator, when expressed in the will, governs the order in which property will abate. Where the will is silent, abatement occurs in the following order: intestate property, gifts that pass by the residuary clause in the will, general legacies, and specific legacies.

In the context of taxation, an abatement is a decrease in the amount of tax imposed. Abatement of taxes relieves property of its share of the burdens of taxation after the assessment has been made and the levy of the tax has been accomplished.

See: taxation.

In general, a decrease in the amount of taxation faced by an individual or company.

Investopedia Says:
Examples of an abatement include a tax decrease, a reduction in penalties, or a rebate.

Related Links:
We give you seven guidelines to help you keep more of your money in your pocket. Tax Tips For The Individual Investor
Find out how taxes are applied to your investment returns and how you can reduce your tax burden. Capital Gains Tax 101

(əbāt′ment)
n

A decrease in severity of pain or symptoms.

For a list of words related to abatement, see:

• Decisions, Judgments, and Conditions - abatement: termination, esp. of nuisance; reduction from full amount, esp. of tax
• Real Estate Practice - abatement: decrease in property tax due; improvement

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