PEI Land Transfer Tax Calculator

Everything you need to know about Land transfer tax in PEI. Use the below approvU PEI land transfer tax calculator to estimate your land transfer tax amount to buy a property in PEI

12K+

Mortgage Deals

25+

Lenders & Brands

$$

Huge Savings

Overview Of The PEI Real Property Transfer Tax

The Prince Edward Island Real Property Transfer Tax (Land Transfer Tax) applies to several categories, including physical land and structures situated on the land, such as a building, machinery, installations, equipment, and utilities. Bulk storage tanks and any supply pipeline connected to ithemalso included wire, cable, towers, any transmission system forming part of a television cable, and more.

These property types are defined in the Real land transfer tax as “Real Property.”

Their PEI Land Transfer Tax is calculated by applying the Real land transfer tax of 1% on the greater of:

the purchase price of the real property; or
the assessed value of the real property.

PEI Land Transfer Tax Calculator

Living In Prince Edward Island

Prince Edward Island proves to you why bigger is only sometimes better. As Canada’s smallest province, Prince Edward Island has many attractions and activities that draw people to move to the province. It has a population of 167,680, the least populated province (except Territories) in Canada.

The province is enjoying an influx of business and entrepreneurial acumen. These have helped modernize the province’s traditional agriculture, fisheries, and tourism sectors. It now boasts of new developments in bioscience and advanced manufacturing.

PEI population growth is one of the highest in the country. It has a 3.1% year-on-year population growth rate, ahead of Nova Scotia and Nunavut, which were 2.2% and 1.9%, respectively.

The province’s average house price currently sits at $390,000 as of CREA August 2022 data. PEI’s housing market is forecasted to have the largest decrease in the country. The house price is expected to fall 25% by December 2023 compared to 2019.

Brief Facts About Living In Prince Edward Island

"Birthplace of Confederation"

Median House Price

$362,900

Average Mortgage

$251,276

Population

167,680

Median Household Income

$78,000

PEI Land Transfer Tax Table

The fees are illustrated in the table below.

Greater of the purchase price or the assessed value	The land transfer tax rate	First-time home buyer rebate
less than $30,000	no land transfer tax paid	Full refund for first-time homebuyers
between $30,000 and $200,000	1.00%	Full refund for first-time homebuyers
greater than $200,000	1.00%	no rebate available

Shop Across 25+ Lenders For Your Best Mortgage Deals

See Your Personalized Mortgages Online With approvU

PEI Land Transfer Tax Example Calculation

Let’s assume that the home you are buying is valued at $300,000.00

Calculation

$30,000.00

First $30K Property Value

0.0%

Rate

$0.00

Fee

($200,000.00 - $30,000.00)

Number of Tallys per $5000.00 property value

1.00%

Rate

$1,700.00

Fee

A full refund of this amount if you are a first-time home buyer

($300,000.00 - $200,000.00)

Number of Tallys per $5000.00 property value

1.00%

Rate

$1,000.00

Fee

No refund of this amount

$2,700.00

Land Transfer Tax Amount For A $300K Property

PEI First-Time Home Buyer Land Transfer Tax Rebate

$200,000 or less if it will be their principal residence.

PEI First-Time Home Buyer Land Transfer Tax Rebate Eligibility Criteria

You are a Canadian citizen or a permanent resident and:
- You have lived in PEI for the past six months before the transfer
- You have filed income tax returns in PEI at least two times in the past six years
In the case of more than one buyer, all must be first-time home buyers.

Get A Mortgage With approvU

approvU is everything you need to make the right mortgage decisions like a Pro!
Born in Canada for Canadians
Largest mortgage marketplace with over 12,000 mortgage deals from 25+ lenders
No baiting; not a lead generator; your information is never sold
Skip the appointments and apply online anytime; it takes less than 6 minutes.
Multiple approvals from a single submission
Control and track every step of your application as it moves through to funding.

PEI Land Transfer Tax Calculator

12K+

25+

$$

Table of Contents

Overview Of The PEI Real Property Transfer Tax

PEI Land Transfer Tax Calculator

Living In Prince Edward Island

Brief Facts About Living In Prince Edward Island

Median House Price

Average Mortgage

Population

Median Household Income

PEI Land Transfer Tax Table

Shop Across 25+ Lenders For Your Best Mortgage Deals

PEI Land Transfer Tax Example Calculation

Calculation

$30,000.00

0.0%

$0.00

($200,000.00 - $30,000.00)

1.00%

$1,700.00

($300,000.00 - $200,000.00)

1.00%

$1,000.00

$2,700.00

PEI First-Time Home Buyer Land Transfer Tax Rebate

PEI First-Time Home Buyer Land Transfer Tax Rebate Eligibility Criteria

Related Contents

Other Land Transfer Tax Calculators

PEI Mortgage Rates

More Mortgage Rates & Tools

Get A Mortgage With approvU

Education

Tools & Resources

About approvU