The regional rate for households is to be increased by 6% and frozen for businesses in the coming financial year.
Northern Ireland secretary Chris Heaton-Harris took responsibility for setting the domestic and non-domestic regional rates for 2023-24 in the continuing absence of a Stormont Executive.
Rates are a property tax which fund public services in Northern Ireland at a regional and local level.
Read more: Every rates increase across Northern Ireland's 11 councils
Annual bills are calculated based on property values, the regional rate usually set by Stormont and the district rate set by each local council.
The Northern Ireland Office said the 6% increase in the domestic regional rate is below both the rate of inflation (10%) and the average increase in the domestic district rate set by councils (6.67%).
It said freezing the non-domestic regional rate followed "extensive consultation" and recognises the "unique pressures which NI businesses are facing".
Mr Heaton-Harris said: "In the absence of the Northern Ireland Executive, I have set the regional rate to ensure the crucial delivery of public services and provide certainty for NI taxpayers.
"I am very aware that this comes amidst cost of living pressures for both NI businesses and households, and I have set the rates to improve the sustainability of the NI public finances whilst protecting those most in need.
"Whilst I will not shirk my responsibility to do the right thing for NI's finances, it remains the case these decisions should be taken by locally elected politicians in a fully functioning NI Executive."
For the past year the DUP has been blocking Stormont power-sharing in protest against Brexit's Northern Ireland Protocol.
The party has refused to restore the Executive and Assembly until significant changes are made to the contentious Irish Sea trading arrangements.
Civil servants are currently running public services in Northern Ireland in the absence of elected ministers, but with limited decision-making powers.
The NI (Executive Formation etc) Act conferred on the Secretary of State a power to set the regional domestic and non-domestic rate for the next financial year.
The regional rate has been set through secondary legislation, which was laid in Parliament on Thursday and will come into force on March 20.
READ NEXT:
Stormont catering contract awarded to firm supplying 'substandard' food to US prisons
Two MLAs hit £7,000 office costs spending limit three months early amid rising energy bills
New Northern Ireland planning applications portal "unacceptably poor" says architecture group
For all the latest news, visit the Belfast Live homepage here. To sign up to our FREE newsletters, see here.
