Peel Commissioners has increased its rates by 1.1 percent for the next financial year.
The rates in Peel is set to now stand at 270 pence in the pound.
The lead member for finance, Ray Harmer, says being ‘prudent’ over the past few years has kept the rates low for residents.
Despite this, the refuse rate for the town has increased by £34 to equal £257 per household.
The commissioners claim that the energy used at the waste plant has ‘dramatically’ increased over the last year.
Talking about the rates, Mr Harmer said: 'In Peel we have two rates - one is the refuse charge and the other is the actual rates.
'The actual rates are going up by 3p from 267 to 270, while the refuse rates are increasing from £223 per household to £257.
'Regarding the refuse rate, we are very much in the hands of the charges that are forwarded back on to us. Those rates have dramatically increased over the last year, so our refuse rates have likewise increased.
'Regarding the general rates, that’s really quite a small increase and that really has been down to the fact that over the years we’ve been able to make staffing administration savings. Despite the fact that salaries again have been going up each year, we’ve been able to make savings in that area.
'We have to be careful that we’re able to do the things that people rightly expect of us. For example, if there’s dark spots in street lighting, keeping and maintaining our play parks and improving the beach area.'