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Property Assessment

The Real Property Assessment Act states that all real property in the province shall be assessed at market value for the purpose of calculating property taxes. Local property sales provide a basis as to the assessed value of similar, unsold properties. In addition, Taxation and Property Records continually collects information about all real property in the province to ensure that those with similar characteristics (age, size, location, construction, etc.) have similar, but not necessarily identical assessed values.

How often is my property reassessed?

The following factors cause a reassessment on properties:

  1. Annual Adjustment Multipliers
    These multipliers are determined by analyzing the ratio of property sales to assessed values; and

  2. On-site Inspections
    Periodic inspections are made to confirm the extent of property improvements, as well as the quality and condition of the structures.

How do I know if my property assessment is correct?

If the assessed value is incorrect, it is probably because Taxation and Property Records is unaware of changes made to a property over the years. Since accurate information is essential when determining assessed values, Taxation and Property Records is always willing to hear from property owners who may have new information that could affect their assessment.

I disagree with my assessment. What can I do?

If you feel that the assessed value of your property is incorrect, you can refer and appeal your assessment at no charge.  If the assessed value is reduced as a result of the appeal process, the taxes will be adjusted accordingly.


Please note:
This page is prepared for information purposes only, and should not be considered a substitute for the applicable statutes. Should there be any conflict between the contents of this page and the statutes, the statutes shall prevail.




Shaw Building

White, Walter (Regional Supervisor, Property Assessment Services) Province of PEI


Access PEI Summerside

MacDonald, Todd (Regional Supervisor, Property Assessment Services) Province of PEI

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