GLOSSARY TERM  
  Abatement  
 
  DESCRIPTION  
  A reduction or lessening of something. Often used in the context of environmental factors such as a requirement of an environmental authority to reduce noise or other emissions. Also used in the context of leases where there is provision to reduce the rent in the event that part or all of the premises become unusable.

It can also be used in reference to reducing a price or value if works have not been carried out to correct specifications, are incomplete, or have not been carried out at all.