Port Erin Commissioners has set its local authority rate for the forthcoming financial year at 404 pence in the pound, a 4.94% increase from the current 385p.
For a typical three-bedroom property, this equates to an annual increase of £22.04, or 42p per week.
Board Chair Hannah Mackenzie announced the increase, stating the focus is on a “back-to-basics approach” to serve ratepayers and support visitors.
She said: “We are proposing a modest rate increase of 4.94 per cent. While we are mindful that this is slightly above the current Island inflation rate of 3.3 per cent, it is a vital investment.”
The budget follows a forecast loss of income linked to the stalled Reayrt Vradda project.
Mrs Mackenzie confirmed a public meeting on the matter would be “called imminently” and that related legal fees would be absorbed from reserves.
She added: “We are disappointed by the public narrative presented by the liquidator and we reiterate that our priority is our ratepayers.”
Key spending priorities include village infrastructure, glen maintenance, library services, and a planned investment in street lighting.