Views are being sought on proposed amendments to the Rating and Valuation Act 1953 as part of a six-week consultation exercise which launched today (Friday 5 September).
The changes aim to make targeted improvements to the way rates are applied in relation to four specific areas: dangerous or ruinous buildings, rebate schemes, quarries and property owned by charitable organisations.
The proposed amendments are designed to enhance fairness, flexibility and clarity within the existing rating system.
Proposals include:
- Removing rates exemptions for dangerous or ruinous buildings to: discourage long-term vacancy; and promote property upkeep to bring more into economic use
- Allowing greater local flexibility in rebate schemes by removing the requirement that all such schemes are funded by the Treasury
- Introducing a discount and potential cap on the rateable value of quarries, recognising their unique nature
- Clarifying the treatment of property owned by charitable organisations, to ensure consistency and transparency in how rates are applied
The consultation document outlines the scope of the proposed changes and includes initial information on potential impacts. Feedback received will help shape a more detailed formal impact assessment, which will be carried out following the consultation period.
In a foreword to the consultation, Treasury Minister Dr Alex Allinson MHK writes:
'By working together and communicating clearly with property owners, we can improve our communities, regenerate areas around our Island and provide more housing where people want to live and work.’
He added:
‘I am pleased to present this consultation, which seeks the views of our community on amendments that will help improve a number of anomalies and ambiguities that exist, and it is believed can be implemented quickly to benefit all our communities.’
The consultation document is available to view and complete on the Isle of Man Government consultation hub by visiting 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 +44 1624 685980.
The process will run for six weeks and conclude on Friday 17 October 2025.
