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Real Estate Glossary

Abatement

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Richard Wilson
Written by Richard Wilson

Abatement is a temporary tax break offered by a municipality or state on residential and commercial properties. This means that no rent is paid during the first few weeks, months, or even years of the lease. Abatement only applies to eligible properties.

Abatement is a temporary tax break offered by a municipality or state on residential and commercial properties. This means that no rent is paid during the first few weeks, months, or even years of the lease. Abatement only applies to eligible properties.

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Richard Wilson

Richard Wilson

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