Tax Incentive Programs
A Property Tax Refund is available to the following categories of residential construction:
| Construction of a new home with value of $50,000 or more |
| Placing a home (from outside the Community) on a new foundation to a total value of $50,000 or more |
| Construction of a new apartment building |
| Purchase of a home with the community limits |
This incentive program begins Jan. 1st immediately after the Date of Occupancy and runs for five years.
If the property is sold before the incentive period expires, the incentive program transfers to the new owner for the remainder of the incentive.
This applies to the purchase of a home: If the property is sold once the incentive is complete, the property or PID No. no longer qualifies for the tax incentive. Eligible applicants will receive a tax refund of 100% for the first 5 years on the Municipal portion of their residential property tax
These refunds will normally be paid out in equal payments June 1st, September 1st, and December 1st.
An applicant must fill in an application form and return it along with a copy of their P.E.I. Real Property Tax bill, to the Municipal Office, 209 Phillip Street. Applicants need to continue to forward copies of their new Property Tax bill for each year of the agreement.
This tax incentive does not apply to mobile homes.
Click here for the Tax Incentive Application Form.
