abatement Hear it!

abatement definition - finance
The reduction or suspension of payments. For example, a municipality may give a corporation tax abatements to lure the corporation to the city. An abatement also may be used in a contract in the event that some extraordinary situation arises. See also tax abatement.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.