Tax Credit
PEI | Residential Unit Development Incentive (RUDI) for multi-unit residential buildings
The Residential Unit Development Incentive (RUDI) for Multi-Unit Residential Buildings announced by the Province of Prince Edward Island will provide financial support to encourage the development of newly constructed rental units by providing a diminishing property tax rebate for a period of up to five (5) years. Developers will receive the following tax rebates through this initiative:
- 100% rebate on provincial property tax in year 1
- 80% rebate on provincial property tax in year 2
- 60% rebate on provincial property tax in year 3
- 40% rebate on provincial property tax in year 4
- 20% rebate on provincial property tax in year 5
- 4.5/5.0
- Prince Edward Island
- All levels
- Last updated 2 years ago
- English
Description
The Residential Unit Development Incentive (RUDI) for Multi-Unit Residential Buildings announced by the Province of Prince Edward Island will provide financial support to encourage the development of newly constructed rental units by providing a diminishing property tax rebate for a period of up to five (5) years. Developers will receive the following tax rebates through this initiative:
- 100% rebate on provincial property tax in year 1
- 80% rebate on provincial property tax in year 2
- 60% rebate on provincial property tax in year 3
- 40% rebate on provincial property tax in year 4
- 20% rebate on provincial property tax in year 5