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What are rates and how do they work?

Local authorities have been setting rates this week

This week, local authorities have been setting their rates for the next financial year. 

Douglas has the highest rate at 509 pence in the pound followed by Ramsey and Port St Mary at 467 and 386 pence respectively.

But what are rates and how do they work?

Local Democracy Reporter Emma Draper has been speaking to Clerk at Port Erin Commissioners Jason Roberts:

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