Tax Abatement
Definitions
- (n.) A reduction or exemption from a tax granted by a government authority, often to encourage economic development or investments.
The city offered a tax abatement to attract new businesses to the downtown area.
Related terms
See also
Commentary
Tax abatements are typically conditioned on specific actions or improvements and may be time-limited to incentivize desired behavior.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.