Rise attributed to 'inflationary pressures', staffing, and waste costs
Ratepayers in Castletown will have to pay an extra 7 pence in the pound come April, after local commissioners agreed to a 2.4 per cent increase in the town rate.
It now stands at 298 pence in the pound, whilst the domestic waste charge, paid by each domestic property is now set at £135, a rise of three per cent.
The rise has been attributed to 'inflationary pressures' as well as staffing and waste management costs.
Castletown Commissioners have budgeted for projects such as improvements to play facilities in Poulsom Park, and street light replacement in the centre of the ancient capital.
Chairman Richard McAleer says the board worked to keep costs under control, and agreed with an election approaching in April, spending priorities should be decided by the next board.
Local authority rates are calculated based on the 'pence in the pound' figure set by commissioners, which is then multiplied by the 'rateable value' of your property.
The rateable value of all properties in Castletown is £257,477, which, against the new town rate, will produce an income of £767,192.
Like many authorities, Castletown separates out the cost of waste disposal into a 'Refuse & Sanitation' charge. More than 1700 properties pay this fee, which produces £203,715 for commissioners to fund waste costs.
Businesses pay for the disposal of their waste under a weight based 'user pays' system.