Prince Edward Island land transfer tax: the real property transfer tax
What the real property transfer tax is charged on, who pays it and when, what is exempt — worked at six prices.
How much is land transfer tax in Prince Edward Island?
1% of the greater of the purchase price and the assessed value — $4,099 on the September 2026 average of $409,925 — paid by the purchaser when the deed is registered. A first-time buyer who qualifies pays none, with no price cap, and a transfer of $30,000 or less is exempt. Registry fees are separate.
The real property transfer tax at six prices
| Purchase price | Transfer tax | Qualifying first-time buyer | Registry fees |
|---|---|---|---|
| $200,000 | $2,000 | $0 | $850 |
| $300,000 | $3,000 | $0 | $927 |
| $400,000 | $4,000 | $0 | $927 |
| $409,925 (September 2026 average price) | $4,099 | $0 | $927 |
| $500,000 | $5,000 | $0 | $927 |
| $750,000 | $7,500 | $0 | $927 |
The purchaser files an Affidavit of Purchaser stating the price before the deed is registered. Where the assessed value is higher, tax is paid on it, and a refund can be requested if a review lowers the assessment.
Go deeper
The detail, if you want it
Who counts as a first-time buyer
A first-time buyer pays no transfer tax, and there is no price cap: every buyer on the deed must be a citizen or permanent resident, have lived in PEI for six months (or filed PEI tax returns in two of the last six years), never have owned a principal residence, and live in the home for 183 consecutive days.
All buyers on the deed must qualify, and each signs a declaration before a notary or commissioner. A buyer who fails only the six-month residency test pays the tax, then can claim a refund after living in the home for 183 days.
Other exemptions
Exempt: a transfer of $30,000 or less, a transfer to a family member for $1 or less, a transfer on marriage breakdown, and a transfer to a corporation the seller owns at least 95% of (taxable if that ends within 12 months).
Registry of Deeds fees
Registry of Deeds fees are set in the Registry Act by band: $463.65 to register a deed of $200,000 or more and the same for a mortgage of $200,000 or more, less below that.
Why a broker
Licensed, independent, paid by the lender
- Licensed across Atlantic Canada Indi Mortgage brokerage licences in NS, NB and NL (PEI has no licensing regime); Riley Oickle, Associate Mortgage Broker, NS 3001134
- $0 broker fee On a standard residential mortgage the lender pays, not you
- 33 lenders, one application Banks, credit unions, monolines; one credit check
Questions people ask
Do first-time buyers pay land transfer tax in PEI?
No, if every buyer on the deed qualifies. A first-time buyer pays no transfer tax, and there is no price cap: every buyer on the deed must be a citizen or permanent resident, have lived in PEI for six months (or filed PEI tax returns in two of the last six years), never have owned a principal residence, and live in the home for 183 consecutive days.
Is there a price cap on the PEI first-time buyer exemption?
No. The regulation that set a maximum was revoked in 2016, so the exemption applies at any price.
What if the assessed value is higher than the price?
The purchaser files an Affidavit of Purchaser stating the price before the deed is registered. Where the assessed value is higher, tax is paid on it, and a refund can be requested if a review lowers the assessment.
How much is land transfer tax on a $400,000 home in PEI?
$4,000 at 1%, unless the assessed value is higher or the buyer qualifies for the first-time buyer exemption. Registry of Deeds fees add $463.65 each on the deed and the mortgage.
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