Property tax deferral available to more seniors

More Island seniors are now eligible for the Seniors Property Tax Deferral Program due to an increase in the income threshold.

The program lowers the cost of living for qualifying seniors by deferring the payment of property taxes on their principal residence. The provincial government has increased the income threshold on the program from $35,000 to $42,000. The last time the income threshold changed was in June 2009.

“Inflation affects everyone, and it’s become particularly challenging for seniors on fixed incomes. It’s important for government to continually review our provincial programs. This program has supported seniors for many years, and we plan to continue doing exactly that.”

- Finance Minister Jill Burridge

Today, 316 households use the program, with an average annual amount deferred of $1,729 per household. The yearly amount deferred for the current properties in the program is $485,000. With the increase in the income threshold, it is expected that the total deferred taxes under the program for all participants will increase from approximately $3.5 million to $5.3 million.

To learn more about eligibility and to apply, visit Seniors Property Tax Deferral Program.

Media contact:
Hillary Proctor
Department of Finance
hproctor@gov.pe.ca

General Inquiries

Department of Finance
2nd Floor South, Shaw Building
95 Rochford Street
P.O. Box 2000
Charlottetown, PE, C1A 7N8

Phone: (902) 368-4040
Fax: (902) 368-6575

DeptFinance@gov.pe.ca