IPA: //ˈriːbeɪt//
KK: /ˈriːbeɪt/
A reduction in the amount of money that needs to be paid, or a refund of part of a payment that has already been made.
After submitting my tax return, I received a rebate from the government.
To return a part of a payment or to reduce the amount owed.
The store offered a rebate on the purchase of the new television.
Past: rebated
Past Participle: rebated
Rebate comes from the Old French 'rabattre' (meaning to beat down or reduce), which is formed from 're-' (meaning back) and 'battre' (meaning to beat). The word 'rebate' refers to a reduction or return of a portion of a payment, essentially meaning to beat down the price.
Think of 'beating down' the price ('rabattre') to remember that a rebate is a reduction in cost.