Rates consultation extended as impact assessment updated

Process will now close on Friday 31 October 2025

A government consultation seeking views on proposed amendments to the Rating and Valuation Act 1953 has been extended for a further two weeks.

The update from Treasury comes after a number of local authorities have raised concerns in recent weeks.

The latest was Malew Commissioners, which said it has 'major concerns' - you can read more HERE.

Treasury says it's 'grateful' for the 'valuable additional information and helpful suggestions'.

It also confirmed that 'impact assessments contained within the consultation document' have been updated 'following feedback related to issues with data quality, and due to the complexity of extrapolating data from the rates system'.

It says: "The assessments at Appendix A and B provide information relating to the proposal of removing rate exemptions for dangerous or ruinous buildings as well as introducing a discount and, potentially, a cap on the rateable value of quarries.

"The detail focusses on the impact to each local authority, rather than ratepayers, as the individual bodies may establish different ways of accommodating any fall in rates income.

"Consultation responses will help inform a more formal impact assessment, which may involve further engagement with stakeholders."

If you responded to the consultation before 10 October 2025 and wish to revise your answers after reviewing the updated information, you can resubmit your response via the consultation document, which is available to view and complete on the Isle of Man Government consultation hub at consult.gov.im

Alternatively, written comments can be emailed to treasuryconsultations@gov.im or by post to Isle of Man Treasury, Financial Governance Division, Policy & Legislation Team, 1st Floor Government Offices, Bucks Road, Douglas, IM1 3PU.

To request a printed copy of the consultation, call 01624 685980.

The process was originally due to end on October 17 but has been extended for an additional two weeks and will now close on Friday 31 October 2025.