The authority has put them up by 27p
Onchan District Commissioners says the decision to increase its rates has been made because of rising costs.
The village rate currently sits at 346 pence but this will increase to 373 pence in the pound.
In a statement she said: "Whilst the Board recognise that this year has been difficult for most due to the increase in living costs, the impact of these increases in relation to the Authority’s running costs have been no exception.
"Rising inflation, increases to waste disposal, staff salaries, and utility costs have meant that to avoid cuts to services the Board cannot fully protect rate payers from a rise.
"Additionally, there has been a large investment in relation to our contribution towards the purchase and construction of the new Eastern Civic Amenity Site, and exceptional increases in loan charge repayments.
"This rise will allow Onchan District Commissioners to continue to invest in improving our services for the benefit of everyone in Onchan.”
She also said the board has made a decision to use some of its reserves to try and 'limit' the impact on its residents.