In this paper we propose an adaptive update rate tracking algorithm for a phased array radar, based on the interacting multiple model(IMM) algorithm. The purpose of the IMM algorithm hers is twofold: 1) to estimate and predict the target states, and 2) to estimate the level of the process noise. Using the estimate of the process noise level adapted to target dynamics, the update interval is determined to maintain a desired prediction accuracy so that the radar system load is minimized. The adaptive update rate tracking algorithm is implemented for a phased array radar and evaluated with Monte Carlo simulations on various trajectories. The evaluation results of the proposed algorithm and a standard Kalman filter without the adaptive update rate control are presented to compare.