How is it paid for?
If the BID vote is positive, all businesses within the designated BID area, retail and others, pay a levy based on their rateable value. The rate of the levy is determined during the BID consultation period. The figures in the table below are based on a 1.5% levy.
Rateable Value |
Yearly charge |
Monthly Charge |
Weekly Charge |
£5,000 |
£75 |
£6.25 |
£1.44 |
£10,000 |
£150 |
£12.50 |
£2.88 |
£50,000 |
£750 |
£62.50 |
£14.42 |
£100,000 |
£1,500 |
£125 |
£28.85 |
£250,000 |
£3,750 |
£312.50 |
£72.12 |