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Tight deadline for rates revamp

 

Treasury Minister Eddie Teare says new rateable values for houses should be in place by February next year.

 

Yesterday, Tynwald approved spending £2 million on updating the value of every property on the Island using contracted valuers.

 

The cash will be spent on staff, IT systems and administration – including an appeals process.

 

Mr Teare says a 13-month deadline set by Tynwald to carry out the project doesn’t give a lot of time:

 

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