Douglas Council rates will rise by 0.5% to 397 pence in the pound.
Leading Councillor David Christian presented the budget to a special meeting of the Council this morning.
After some debate, the increase was passed unanimously by 16 votes to nil.
Mr Christian says the budget is achieving savings while delivering more for less:-
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Increase of more than 500 patients for mental health services over last 12 months
Waiting list has also climbed from 1,160 to 1,433