Three local authorities have recently announced their rate changes ahead of the 2026/27 financial year.

Marown, Castletown and Peel are the first three to confirm their set rates, with two reductions and one increase.

Castletown Town Commissioners have decided to decrease their rates, which will be set at 395 pence in the pound.

This is a decrease of 3.1% from last year’s 398 pence in the pound, with the commissioners stating it will provide ‘much needed’ support to residents without ‘any detriment’ to its operations.

The refuse rate will also be reduced to £220 per household which it believes will still allow for investment into the towns public services.

The local authority is expecting an income of just over £1.5million from the new rate, refuse rate and its ‘other’ income for the next financial year – with a £3,000 surplus from its expenditure.

Meanwhile in Marown, rates have also decreased to 236 pence in the pound - a 1.3% decrease.

This comes after the local authority had the biggest hike in rates last year at 22.5%, with the 2024/25 rate being 195 pence.

A spokesperson from Marown Commissioners commented: ‘We have been able to make this reduction due to historic outstanding rates being collected on our behalf by the IOM Government.

‘During 2025, significant investment was made purchasing new street lighting thus benefiting the whole parish and this was done without incurring any debt.’

The only increase in rates so far has been confirmed in Peel, with an increase of three pence in the pound to 275 pence.

Chair Ray Harmer says the local authority has tried to be ‘prudent’ with its increase and has balanced the needs of the businesses in the town as well as those in social housing.

The commissioners are also raising the refuse charge, which includes the bin collection and amenity site fee, by £11.