SUPER IMPORTANT!!!: You can also use this feature to abandon Major Settlements, particularly single region provinces like Skavenblight and Hellpit on the Mortal Empires map that could take over 100 turns to reach Tier 5 from growth normally, and then immediately resettle the region at Tier 5 using 120 Food. So after you have sacked a settlement for the money and occupied it at Tier 1 for army replenishment (I definitely would not occupy it at a higher level and then abandon it, that is a huge waste of food), you can then abandon the settlement so it no longer hurts you food-wise. This requires a lot of time and money and may not be feasible to take a whole province due to diplomatic considerations. To counteract this, you need-must enact the 'Exploitative Planning' edict (which requires you to own a whole province) and build the Tier 4 Infrastructure building 'Warplightning Capacitors' in a Major Settlement. This feature is FANTASTIC for the Skaven, because every settlement you own costs you 1 food.
To do this, click on the Regions' Main Settlement Building, and at the bottom of the pop-up there will be a button you click to abandon the settlement on the next turn, pretty much the same process you would do to demolish the other buildings in a region.
A new feature of The Twisted & The Twilight update is the ability to abandon settlements you do not want.