What is taxable improvement?

What is taxable improvement?

When the property value increases (usually determined by an official valuation at the point of sale or after a significant renovation that requires a permit), the amount of property tax the owner has to pay increases. ... Take a look at property improvements that are typically taxable in the form of property taxes.

What is abatement in income tax?

a reduction in the amount of tax that a business would normally have to pay in a particular situation, for example to encourage investment: The development is eligible for a 10-year property tax abatement.