Abatement - a reduction in amount or intensity. Usually applies to decrease in taxes or rent.
Example: a manufacturing plant may install equipment for pollution abatement.
Eample: tenants may ask for an abatement in rent over a period when their use of the property has been interrupted or inhibited by actions of the landlord, such as renovation of the structure.
Example: the city of Hicksville offered ABC Industries an abatement of property taxes for 10 years if the firm would relocate its plant to Hicksville.