tax abatement


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tax abatement

The reduction of real estate taxes on a property; usually accomplished by means of a reduction in its assessed value.
References in periodicals archive ?
In a conference held particularly for that reason, directors of the Dawson County Hospital District consented to alter the tax abatement sanctioned prior for a solar energy venture proposed by BNB Lamesa Solar.
77, a tax abatement possesses three essential characteristics:
77, Tax Abatement Disclosures, requires governments to disclose information about their own tax abatements separately from information about tax abatements that are entered into by other governments and reduce the reporting government's tax revenues.
The company has requested a tax abatement to build a 100,000-square-foot data centre at its Milford Proving Ground campus, where engineers conduct secretive work on future GM products.
With the assistance of Ari Sorotzkin, the loans were funded and closed virtually simultaneously, just in time to reinstate tax abatement, which had lapsed when the building was rented and no sales had taken place.
The Bloomberg administration is ramping up its opposition to a GOP-sponsored Senate bill that would cap property taxes for apartment building owners whose tax abatements are about to expire, calling it "a large tax break dressed up as housing policy," the Daily News reported.
The idea of property tax abatement for certain military service members originates from the town of Braintree, where, in 2008, the town filed a home rule petition to implement the so-called "Citizen Soldier Act," extending benefits of a property tax abatement of up to 100 percent of the total tax assessed for members of the Massachusetts National Guard and to reservists on active duty in foreign countries.
To entice DaimlerChrysler to remain in Toledo and construct a new vehicle-assembly plant near its existing facility, the state granted it approximately $280 million in tax abatements and credits.
The district court upheld both the investment tax credit and the property tax abatement, and the plaintiffs appealed to the Sixth Circuit Court of Appeals.
Thus, if a business receives a property tax abatement or other reduction in its property tax liability, the business will actually receive the benefits that the government has promised.
with the three County Commissioners of Trumbull County concerning the tax abatement granted to Android Industries, which Davis questions the logic of.
Nine months later, "by a fluke," the realtor found an old building in Silicon Alley that was being renovated under Mayor Rudolph Giuliani's tax abatement program.