Our aim is to devise tax credits, refunds, and abatements in order to benefit these non-profit organizations.
Tax abatements ease the strain on property owners, because they lessen the amount of property tax that is owed.
The reasons are that with the tax at a low rate it has been found much less intolerable than during the Napoleonic War, when it was at the rate of 10 per cent., while the pressure of the tax has also been greatly mitigated by placing very high the minimum income subject to it, and giving abatements upon the lower taxable incomes.
To close the deal, the city provided millions of dollars in tax abatements.
There have been great complaints also of injustice by the possessors of temporary and precarious incomes, who have to pay the same rate of tax as the owners of permanent incomes from property, although these complaints have been diminished to some small extent by the raising of the minimum limit of the income assessed and the increase of the principle of abatements.