What Is a Tax Abatement?
A tax abatement is an agreement in which a local government — here, Leon County — agrees not to collect part of the property tax a new project would otherwise owe, usually for a term of years. The simplest way to think about it: the county is offering a discount. The property still exists. The roads it uses still need grading, the ambulance still runs, the fire department still answers the call. Only the bill changes. ...