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Rates in the Sunset City are going up by five pence for the coming year.
The increase means residents of Peel will pay 242 pence in the pound, a rise of 1.7 per cent on 2011 to 2012.
The board says the rise follows a difficult two years for the local authority but the town will still spend on new projects.
Among them are new play equipment, more CCTV in the town centre, and improvements to street lighting and the public toilets in Market Place.
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