How much will it cost?
Once it is agreed to establish a a BID, businesses within the designated BID area, retail and others, pay a small levy based on their rateable value. The rate of the levy will be one of the items determined during the BID consultation period. As an example, 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 |