ABATEMENT - Tax Ninja's Word of the week

• The act or state of abating or the state of being abated; reduction; decrease; alleviation; mitigation.
• Suppression or termination:abatement of a nuisance; noise abatement.
• An amount deducted or subtracted, as from the usual price or the full tax.

Law:

• A reduction of a tax assessment.
• The termination of a nuisance.
• A wrongful entry on land made by a stranger, after the owner's death and before the owner's heir or devisee has obtained possession.
• A decrease in the legacies of a will when the assets of an estate are insufficient to pay all general legacies in full.

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