This marks the sixth consecutive year the council has lowered its domestic rate.

At a special meeting of the council last week, it was agreed to make an increase of 3.49 percent, down from 3.7 percent last year, which is below the rate of inflation and expected to be one of the lowest in Northern Ireland.

The rates reduction will mean a domestic rate for 2008/2009 of 0.2493p in the pound, and a non-domestic rate of 20.5819p in the pound.

The regional rate for the whole of Northern Ireland for 2008/9 is not expected to increase.

Proposing the new rate, Deputy Mayor of Ards, Councillor Jim Fletcher said: “The need to ensure that we keep any rise in the rate to the absolute minimum, while still providing the quality, value-for-money services and facilities, which the people of the Ards deserve, is always to the forefront of our minds. Achieving the balance is difficult. This is particularly the case when you consider that we had to contend with additional costs of more than £1.5m, which were imposed on us from outside and therefore which were outside our control.

“The council is constantly monitoring and reviewing its expenditure, examining how money is spent and seeking to optimise value for that money. This is sound business practice, and one which although self-imposed has resulted in over three percent efficiency savings each and every year for the last five years. 2008/09 is no exception. This is an indication of the council's financial prudence, as is the fact that we have also managed to reduce the rates increase which we forecast in our three year Financial Plan.”

Chairman of the rates sub-committee Councillor Simon Hamilton said: “It is remarkable that Ards Borough Council in setting a rate increase of 3.49 percent will strike its lowest rate increase in six years, continuing our ongoing downward trajectory in rates rises and more than matches our financial plan.

“The days of yo-yo rates rises and double digit increases in Ards are, hopefully, gone for good.”