Rates in Ramsey are rising by 9.6 per cent.
Ramsey Town Commissioners have set the rate for 2019-2020 at 399p.
The increase only affects the Town rate, which is less than half of the annual rates bill (45per cent).
The new rate will represent an increase of approximately 86p per week for a typical three- bedroomed property in the town.
The commissioners say increased National Insurance contributions, following the introduction of the new single-tier Manx State Pension, rising gate fee charges at the Energy from Waste Plant and the recently agreed pay award contribute to more than half of the rate increase.
Continuing to improving the amenities and assets – including upgrades to the north promenade, decorative lighting in Parliament Street and essential resurfacing of the popular water play feature in Mooragh Park - account for the remainder of the increase.
Chairman Andy Cowie says: "At a time when we are faced with escalating costs, many of which are outside our control, combined with additional demands on our service provision, it is crucial that for the future prosperity of our town we have a robust financial model in place.
"After a long period of absorbing cost increases from our reserves we were hoping to implement gradual rises to get us back on a sustainable footing.
"Regrettably we have been unable to achieve this in the face of mounting operational costs.
"As well as the Commission’s day-to-day business we will continue to support the events and improvements that make Ramsey the great town it is: such as our fireworks display and seasonal events, delivering efficiencies in our equipment and buildings - including our highly-rated library - and investing in staff training.
"Before determining this rate the Commissioners laboured long and hard over the budget process to ensure that every expense and project considered delivered value for the ratepayer.
"Ramsey Town Commissioners are determined not to let rising fees and charges compromise our investment in the future of the town, securing our long-term financial stability and ensuring brighter prospects for Ramsey’s future."