The Ramsey town rate has been set at 342p in the ? for the 2012-2013 financial year.
The rate was announced by lead member for finance and policy Richard Radcliffe at the public meeting of Ramsey Town Commissioners on Wednesday February 15.
The new rate represents an increase of 10p in the ?, three per cent over the 2011-2012 rate. Mr Radcliffe explained that the figure reflected the Commission’s commitment to deliver value-for-money services to the ratepayers of Ramsey against a background of financial challenges brought about by the global economic downturn and a number of factors locally, including inflation, the continued lack of growth in rateable values, a rise in domestic refuse disposal charges from ?30.74 to ?35 per tonne introduced by the Department of Infrastructure, and the increased contribution towards the operating cost of the new civic amenity site at Balladoole in Bride.
At the same time the Commission’s budget was under pressure after Standard and Poor’s had revised the Island’s credit rating from AAA to AA+, resulting in a rise of 0.25 per cent in loan charges applied to all local authorities’ borrowings under the terms of an agreement previously negotiated by the Treasury. The Commissioners had also been tasked to make financial provision for the resurfacing of the Mooragh Park roadway where work is expected to commence in April this year.
The Commission had also negotiated an agency agreement with the Department of Infrastructure highways division to carry out street sweeping in the town, the cost for which in the initial year had been set at ?97,000.
Summarising, Mr Radcliffe said in preparing its 2012-2013 estimates the Commission had sought to absorb, wherever possible, the impact of inflationary increases while retaining funding for priority works and he reaffirmed the Commissioners’ commitment to working with government and the Chamber of Commerce to progress the regeneration of Ramsey town centre.
The statement on Ramsey town rates for 2012-2013 can be downloaded from www.ramsey.gov.im
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