The deadline for responses to a consultation on proposed changes to the Rating and Valuation Act 1953 has been extended by two weeks.

The consultation, run by the Treasury, was originally due to close on October 17 but will now remain open until Friday, October 31, 2025.

The department said it was grateful to local authorities that had provided ‘valuable additional information and helpful suggestions’ since the consultation was launched. Officials said the extra time would allow more stakeholders to review the updated material and provide further feedback.

Impact assessments within the consultation document have been revised following comments about data quality and the complexity of analysing information from the rates system.

The updated assessments, set out in Appendices A and B, focus on two main proposals: removing rate exemptions for dangerous or ruinous buildings, and introducing a discount and possible cap on the rateable value of quarries.

The analysis highlights the likely effect on local authorities rather than individual ratepayers, as councils may take different approaches to managing any reduction in income from rates.

Treasury said responses received during the consultation would help shape a more detailed impact assessment, which could involve further engagement with key stakeholders before any legislative changes are drafted.

Anyone who submitted feedback before October 10 and wishes to amend their response can do so through the updated consultation document, available on the Isle of Man Government’s consultation hub at consult.gov.im.

Written comments can also be sent by email to [email protected], or by post to the Financial Governance Division, Policy and Legislation Team, Isle of Man Treasury, 1st Floor, Government Offices, Bucks Road, Douglas, IM1 3PU.

Printed copies of the consultation are available by calling +44 1624 685980.