Real Property Tax Act (R.S.P.E.I. 1988, c. R-5). Country/Territory Canada Territorial subdivision Prince Edward Island Document type Legislation Date 1988 (2016) Source FAO, FAOLEX Subject Agricultural & rural development, Land & soil Keyword Farming Agricultural land Agricultural development Land tenure Land valuation Tax/levy Ownership Dispute settlement Geographical area Americas, Arctic, Asia and the Pacific, East Pacific, North America, North Atlantic Abstract The present Act provides for a centralized assessment system for real property taxation. In particular, for property tax purposes, the Taxation and Property Records Division of the Department of Finance, Energy and Municipal Affairs assesses the value of all real property within the Province. Taxing authorities use property assessments to determine the tax rates needed to raise the revenue required to pay for public services. Taxation and Property Records sends property owners a Statement of Account - Property Charges that shows assessed values and the applicable charges. Taxation and Property Records remits the municipal, fire district and waste watch portions of the property charges to the proper tax authorities. The text - consisting of 35 sections – deals with the following aspects: property liable to real property taxation, provincial real property tax, tax as applied to farm property, municipal real property tax, notice of taxation, correction of errors or omissions, tax deferral for senior citizens, overdue taxes, service of notices and documents, appeals board, general, offences. Full text English Website www.gov.pe.ca References - Legislation Implemented by General Regulations (P.E.I. Reg. EC 512/72). Legislation | Canada | 1972 (2016) Keyword: Farming, Agricultural land, Enforcement/compliance, Agricultural development, Land tenure, Land-use planning Source: FAO, FAOLEX