tax abatement

  

Definition

Reduction of or exemption from taxes granted by a government for a specified period, usually to encourage certain activities such as investment in capital equipment. A tax incentive is a form of tax abatement.

Use tax abatement in a sentence

  • We were glad to be granted tax abatement, which meant we would have some time to invest without the burden of a tax on our heads.

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  • You may want to apply for a tax abatement if you think that you are deserving of it and want to save some money.

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