The Government of Prince Edward Island is providing a one-time subsidy to offset the increase in 2022 provincial residential tax due to the 2021 Consumer Price Index (CPI). The Property Tax Subsidy will be administered through the Provincial Taxation Office and will provide a one...
On Wednesday during the legislative assembly, Government passed an amendment to the Real Property Tax Act that will roll back provincial residential property taxes to prevent a sharp rise in taxes in 2024. The amendment introduces an owner-occupied residential tax credit to net...
The Government of Prince Edward Island is delivering a property tax initiative that will provide a one-time subsidy to offset the 2023 property tax increase and further support Islanders with the cost of living. Similar to the 2022 property tax initiative, the 2023 Property Tax...
The province has extended the Rental Unit Property Tax Subsidy to help support landlords cover their increased costs without raising rents for Islanders. Since launching in January, 1,017 properties have been approved for the subsidy. “We do not want to see Islanders having to...
Today, Finance Minister Darlene Compton delivered the provincial economic and fiscal update and announced tax relief for Island property owners. At the end of 2019, Prince Edward Island’s economy was strong, outperforming the national average and leading the way in estimated GDP...
Following the damage caused by Hurricane Fiona, residents interested in the Provincial Disaster Financial Assistance Program (PDFAP) can now access a new online self-assessment tool to determine their eligibility to the program. The PDFAP provides residents, small business, not...
Provincial crews, community organizations and partner agencies like Maritime Electric are travelling across the Island to begin initial damage assessments to roads and critical infrastructure. The health and safety of residents will remain a top priority as part of provincial...
Provincial maps have been updated to help Island residents see areas where development may be restricted due to sensitive environmental features like wetlands. The updated map of Potential Development Restrictions and accompanying guides and checklists can help developers...
The Government of PEI is creating three new programs to support landlords during the 2023 rental freeze. The Province is launching a Rental Unit Property Tax Subsidy to provide relief of provincial property taxes payable in 2023 which would decrease landlord property tax costs...
The Residential Tenancy Act that was passed in the Fall 2022 sitting of the Legislative Assembly received proclamation and is now enacted. Key changes that will come into effect include: Maintaining the annual allowable rent increase at 0% until December 31, 2023. A cap of three...