Resource information
The present Act provides for a centralized assessment system for real property taxation. In particular, for property tax purposes, the Taxation and Property Records Division of the Department of Finance, Energy and Municipal Affairs assesses the value of all real property within the Province. Taxing authorities use property assessments to determine the tax rates needed to raise the revenue required to pay for public services. Taxation and Property Records sends property owners a Statement of Account - Property Charges that shows assessed values and the applicable charges. The text - consisting of 35 sections – deals with the following aspects: property liable to real property assessment, residential property assessment, time for assessment, assessment roll, persons to receive an assessment notice, supply of information, notice of assessment, correction of errors, appeals, service of notices and documents, appeals board.
Implemented by: General Regulations (P.E.I. Reg. EC 490/72). (2016-07-09)
