Tynwald approves modernisation plan
Tynwald has given the green light to progress rates reform.
Policy and Reform Minister Chris Thomas suceeded in getting Tynwald to accept his plan to modernise the current system.
An amendment by Ramsey MHK Lawrie Hooper failed to carry.
The new system is based on the area of a property rather than historic rental value.
Mr Thomas argued it is a fairer way with larger homes paying more and smaller houses will pay less.
Under the proposal, each property on the Island will be charged a set rate per square metre, with the size of a home determined primarily through aerial photography.
It's thought any new regulations will not come in until 2022.
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