Calculate the real property transfer tax on your home purchase in Prince Edward Island. PEI charges a flat 1% rate on the property value, with a full exemption for first-time homebuyers purchasing properties under $200,000.
PEI Land Transfer Tax Rate
Prince Edward Island charges a real property transfer tax of 1% on the greater of the purchase price or the property value.
| Property Value | Tax Rate |
|---|---|
| Under $30,000 | Exempt |
| $30,000 and above | 1.0% |
How to Calculate PEI Transfer Tax
Example: For a property valued at $350,000:
- $350,000 x 1% = $3,500
Example: For a property valued at $25,000:
- Exempt (under $30,000 threshold)
PEI First-Time Homebuyer Exemption
First-time homebuyers in PEI can be fully exempt from the real property transfer tax under the following conditions:
- The property value and purchase price are both below $200,000
- The buyer will occupy the home as their primary residence
- If there is more than one purchaser, both must qualify as first-time buyers
This makes PEI one of the more generous provinces for first-time buyers purchasing more affordable homes.
Land Transfer Tax in Other Provinces
Land transfer tax rates and rules vary across Canada. See our Land Transfer Tax Calculator for rates in all provinces and territories.