Freeze on residential property taxable assessments continues for 2010 in P.E.I.
The taxable assessment on owner-occupied residential property will remain frozen in 2010, says Minister of Finance and Municipal Affairs Wes Sheridan.
In the fall of 2009, legislation was passed to ensure that any future increase in assessment on owner-occupied residential property for purposes of taxation will be tied to the Consumer Price Index (CPI) for the previous year.
As a result of the legislation, recent stability in CPI dictates that no increase is permitted for 2010.
The tax information can be a little confusing… So here’s another post I made about the new PEI property taxes.
