Port Erin Commissioners is putting its rate up by 4.7 percent to be able to provide a ‘realistic budget’ and services for residents.
The increase to 378 pence in the pound is split, with the local authority saying it receives 40 percent of the rates bill.
This comes after today's earlier announcement that Castletown Town Commissioners is also increasing its rates, while the Arbory and Rushen authority also increased its rates last week.
Chair of Port Erin Commissioners, Godfrey Egee, explained the current budget will mean ‘further investment’ of the facilities in the village and also supports the increased Southern Swimming Pool rate to keep it open.
He also says the board will be ‘monitoring’ government support for the pool after a period of ‘uncertainty’.
Mr Egee said: 'It is both heartening and reassuring to hear people talking so positively about all that is happening in Port Erin and that it continues to be such a highly regarded place to live, work and visit.'
The local authority says many of the costs it has are out of its control, but is moving £55,000 out of its reserves to absorb some of these pressures.
In a statement, the commissioners said: 'Our staff have settled into the new depot at Breagle Glen which has allowed us to repurpose the former depot and fire station properties within the village, which have been leased to local existing businesses and new start-ups.
'The recent public consultation exercises regarding public spaces provided a great insight into what people would like to see in the areas around those properties and the village, so we will be working on bringing some of those schemes forward over the forthcoming year.
'The Cosy Nook has been undergoing some winter works, with a new tenancy due to commence ahead of the forthcoming 2024 season. The incoming tenants have plans to reopen the inside dining area and improve the weather protection of the outside dining area, which is great to see.'