Local authority has announced 18 pence increase for the 26/27 financial year
Ramsey Commissioners says it's increasing the town's rates due to rising day to day costs, which include higher charges for waste disposal and ongoing maintenance of infrastructure.
The local authority has set the rate at 528 pence in the pound - an 18 pence (3.5 percent) increase on 2025.
The board says it 'recognises' the ongoing cost of living pressures and has focused on 'limiting' the impact of inflationary cost pressures on ratepayers.
It adds that the budget is 'balancing' affordability with its responsibility to manage public services and assets 'properly'.
The local authority says the rate increase will support the replacement of existing equipment and infrastructure and ensure that existing services and facilities remain 'safe, reliable, and of a good standard'.
It's also confirmed that a number of potential projects were 'deferred or rejected' in order to keep the rate increase low.
Lead Member for Finance Juan McGuinness said: “We are very conscious of the pressures households are under, and that was central to our discussions. We challenged spending, reviewed how we operate, and deferred a number of projects to keep the increase as low as possible. This rise is driven by inflation and the need to properly maintain what the town already has. It is about remaining a responsible authority while continuing to provide value for money to ratepayers.”
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