
Proposals aim to improve 'a number of anomalies and ambiguities', says minister
A consultation has opened today (5 September) asking for people's views on how rates are applied to certain properties.
It's a six-week exercise proposing amendments to the Rating and Valuation Act 1953.
Treasury says the changes aim to make targeted improvements to the way rates are applied in relation to four specific areas: dangerous or ruinous buildings, rebate schemes, quarries and property owned by charitable organisations.
The proposals include:
• Removing rates exemptions for dangerous or ruinous buildings to: discourage long-term vacancy; and promote property upkeep to bring more into economic use
• Allowing greater local flexibility in rebate schemes by removing the requirement that all such schemes are funded by the Treasury
• Introducing a discount and potential cap on the rateable value of quarries, recognising their unique nature
• Clarifying the treatment of property owned by charitable organisations, to ensure consistency and transparency in how rates are applied
Treasury Minister Alex Allinson says: ‘By working together and communicating clearly with property owners, we can improve our communities, regenerate areas around our Island and provide more housing where people want to live and work.
‘I am pleased to present this consultation, which seeks the views of our community on amendments that will help improve a number of anomalies and ambiguities that exist, and it is believed can be implemented quickly to benefit all our communities.’
You can find the consultation via government's consultation hub HERE.
Written comments can also be emailed to treasuryconsultations@gov.im or by post to Isle of Man Treasury, Financial Governance Division, Policy & Legislation Team, 1st Floor Government Offices, Bucks Road, Douglas, IM1 3PU.
Anyone wanting a printed copy of the consultation is asked to call 685980.
The consultation will close on Friday, 17 October.