Definition of "Abatement"

Tracy Murphy real estate agent
Tracy Murphy, Real Estate Agent Coldwell Banker Advantage

Decrease or elimination of an excising condition.

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Comments for Abatement


SAahu SAahu said:

Why is there no abatement on development charges?

May 02, 2019  04:22:49

 
Real Estate Agent

Hi! Development charges cover the cost of bringing all the necessary utilities and municipal services to a new real estate development - roads, public transportation, fire and police stations, sewerage systems and the like. Abatements apply to the property tax temporarily, which means that homeowners and businesses will pay lower taxes for a certain period of time, thus making the area more economically attractive. 

May 03, 2019  06:49:02
 

 

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