RINKdonations
building on community support
BECKER BIG LAKE ICE ASSOCIATION
Abatement
(2) A reallocation of taxes to pay bondholders (3) A reallocation of taxes to pay for public infrastructure costs, OR (4) A deferment of property taxes.
A political subdivision may “abate” all or a portion of its property tax on one or more parcels of real or personal property, including machinery, for economic development purposes, subject to a duration limit and a limit on the amount of abatements. The “abatement: can be:
(1) A rebate of property taxes to the property owner;