Remit: (verb): to refrain from exacting.

Source: https://www.merriam-webster.com/dictionary/remit

From “A Rose for Emily” by William Faulkner:

“Alive, Miss Emily … dating from that day in 1894 when Colonel Sartoris, the mayor … remitted her taxes … Colonel Sartoris invented an involved tale to the effect that Miss Emily’s father had loaned money to the town, which the town, as a matter of business, preferred this way of repaying.”

This sentence states that Colonel Sartoris had stopped collecting taxes from Emily because of a (supposed) loan that her father gave the town.