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 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...
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...
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...
Island residents will save more in 2024 due to changes in provincial income and property taxes this year. Changes to the current income tax bracket system effective January 1, 2024, will result in total savings of $14 million this fiscal year to Islanders impacted, with savings...
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...
The Third Session of the Sixty-fifth General Assembly of Prince Edward Island opened today with the Speech from the Throne by the Honourable Antoinette Perry, Lieutenant Governor of Prince Edward Island. The speech outlined the successes of the first two-and-a-half years of...
A new housing support program will help low to moderate income Islanders on the path of homeownership. The new Closing Cost Support Program will provide a reimbursement to eligible Islanders, up to $2,500, towards the closing costs associated with the purchase of their first home...
The provincial government has announced an historic new way to fund the Island’s municipalities. Finance Minister Allen Roach today (November 6) outlined the funding changes in the Legislative Assembly. The new agreement will provide municipalities with more predictable funding...
The final report of the Forestry Commission suggests the future health and resilience of Island forests will depend on striking a better balance. The report, Towards a New Forest Policy, contains 14 recommendations put forward by the thirteen members of the commission who...