abatement

Definitions (4)
Popular Terms
1. Commerce: Reduction in the amount of a bill or charge such as demurrage, overtime penalty, or rent.
2. 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.
3. Legal: Suspension of a court action, or bringing it to a close before the final decision.
4. Taxation: Rebate given in levies or taxes under special circumstances, such as in aftermath of natural disasters.

Use 'abatement' in a Sentence

The investor was able to secure a tax abatement for the historic apartment building, in exchange for promising to create affordable housing to veterans.
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After Hurricane Katrina, an abatement was granted for the residents of New Orleans, this reduction of taxes offered some condolence for the citizens.
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When removing the siding from my old house I used abatement in choosing the proper disposal techniques for the asbestos materials.
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