Rates to rise in Castletown

Rates in Castletown are to rise by 14 per cent.

The news was confirmed in a post on social media - with a 44p increase and the domestic refuse levy to also increase by £1 a week to £202.

Mr Jamie Horton, Chairman of Castletown Town Comissioners commented;

"No local authority wishes to announce significant rate increases, however it is a matter of public record that we underestimated the level of financial challenge which awaited us in 2022."

He says the Town operated at a significant deficit to the rates collected for the year ended 31st March 2022 and has continued to do so into the current financial year. 

Mr Horton adds 'intervention is now required to address the deficit without further depleting our general reserve.'

Lastly, he says 'significant inflationary pressures' have led the board to make difficult decisions and borrowing costs, sanitation and employee costs remain the Commissioners highest areas of expenditure.'