Treasury Minister Eddie Teare says new rateable values for houses should be in place by February next year.

Yesterday, Tynwald approved spending ?2 million on updating the value of every property on the Island using contracted valuers.

The cash will be spent on staff, IT systems and administration – including an appeals process.

Mr Teare says a 13-month deadline set by Tynwald to carry out the project doesn’t give a lot of time:
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