Small businesses in Prince Edward Island (PEI) are paying way more than their fair share in property taxes. In many communities, they’re facing rates 1.6 to 2.3 times higher than what homeowners pay on properties of the same value, sometimes $3,600 to $7,900 more each year. That’s a huge gap for businesses that are already working hard to create jobs, keep main streets alive, and contribute to their communities.
Our members tell us this isn’t just frustrating, it’s hitting their bottom line. More than half have had to raise prices just to keep up with rising property taxes. Almost 60% say the system isn’t fair or predictable, and 77% don’t feel like they’re getting good value for the money they pay. These extra costs make it harder to invest, grow, and stay competitive.
It doesn’t have to be this way. As a result, CFIB is calling on the Minister of Housing, Land and Communities, the Minister of Economic Development, Innovation and Trade, and PEI’s mayors to step up. The commercial–residential property tax gap needs to be reduced, and eventually eliminated. Small businesses also need balanced, reasonable, and predictable tax increases they can plan for.
Small business owners aren’t asking for special treatment, they just want equitable treatment. It’s time to close this tax gap and give entrepreneurs the level playing field they deserve.
Sign the petition today to show your support for fair property taxes in PEI. And if this kind of advocacy matters to you and you want to stay connected, become a CFIB member.