Douglas Council has collected 99.4 per cent of the rates due to it for the 2012-2013 financial year.
Its target had been 99 per cent.
It means the island’s largest local authority has raised £10.2 million.
The council has also exceeded its 99 per cent rent payments corporate plan target. With rents paid one week in advance, a figure of 100.2 per cent was achieved for the last financial year, equating to £12.9 million.
For both rates and rent the council says it continues to pursue all outstanding amounts.
Council leader David Christian said: ‘These excellent results demonstrate how the council is succeeding in a number of key objectives set out in the corporate plan; principally developing more channels of communication between the council and its customers and providing them swifter and easier access to our services.’