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derate

/ (diːˈreɪt) /
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verb
(tr) British to assess the value of (some types of property, such as agricultural land) at a lower rate than others for local taxation
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Derived forms of derate

derating, noun
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
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