BusinessJuly 10, 2026
abatement
/əˈbeɪtmənt/
Definition
A reduction or decrease in the amount of a tax or other financial obligation, often granted as an incentive.
Etymology
Derived from the Old French 'abatement,' meaning 'beating down' or 'diminishing,' which comes from the verb 'abattre.' It entered English in the 14th century to describe the act of reducing or nullifying a legal or financial claim.
In the news
The article discusses whether a nonprofit organization qualifies for a tax abatement for their headquarters renovation. This highlights the ongoing debate over government fiscal support and tax breaks for local entities.
D.C.-area firms pull in $3.8B in venture capital over 12 months as AI boom offsets federal cuts
Read the full article ↗The Business Journals