This section provides information on eligibility for a waiver of Real Property Transfer Tax where the real property is being purchased by first-time home buyers. What is the Real Property Transfer Tax first-time home buyers exemption? Real Property Transfer Tax that normally...
This section provides information on eligibility for a waiver of Real Property Transfer Tax where a person transfers real property to a corporation that the person wholly owns; or a corporation transfers real property to another corporation and both corporations are wholly owned...
The Rental Unit Property Tax Subsidy has been created to help offset increasing costs for landlords associated with the 2023 rental freeze. The subsidy aims to provide relief on provincial property taxes payable in 2023 and decrease landlord property tax costs. This will allow...
This section provides information on eligibility for a waiver of Real Property Transfer Tax where the transfer of real property is as a result of a marriage breakdown. What is the Real Property Transfer Tax marriage breakdown exemption? Real Property Transfer Tax that normally...
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...
This section provides information on eligibility for a waiver of Real Property Transfer Tax where the recipient(s) of the real property are all members of the family of the person making the transfer of real property. What is the Real Property Transfer Tax inter-family transfer...
This section provides information for property owners on the determination of a market value for all real property in the province. Property assessment forms the basis for the collection of provincial and municipal property taxes. Property assessment refers to the determination...
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...
A provincial tax credit may be applied to the provincial portion of property tax on non-commercial property. Currently, the provincial tax credit is $0.50 per $100 of taxable valuable assessment. Who is eligible? You may qualify for the provincial tax credit if you: are the sole...
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...