tax abatement
noun[CorU]
TAX,FINANCE,PROPERTYukusareductionin theamountoftaxthat abusinesswouldnormallyhave topayin aparticularsituation, forexampletoencourageinvestment:
Thedevelopmentiseligiblefor a 10-yearpropertytaxabatement.
Withouttaxabatement, I will never get theloanstofinancetheproject.
ataxabatementpackage/programme