The Levy

How the Levy Works

The BID levy is nothing to do with business rates.  It is an equitable way of funding additional project and services which would not happen otherwise and which the Council is not required to provide. 

The money is kept locally, and spent locally, for the benefit of the local area.

  • Levy payments are made by those liable to pay non-domestic rates with a rateable valuation of £3,000 or above and will be made by the occupiers of the business premises.  Where the property is vacant, the owner will be liable for the levy payments. 
  • The levy payments are not linked to what businesses actually pay in rates but are based on the rateable value of the property. 

The following table shows the modest cost paid by each business operating from a commerical property with a rateable value of £3,000 or above.

RV range

Total annual levy per business

Cost per week

£3 - £8.399k

£150

£2.90

£8.4 - £13.399k

£250

£4.23

£13.4 -£39.99k

£380

£7.30

£40 - £65.99k

£530

£10.20

£66 - £99.99k

£890

£17.12

£100 - £179.99k

£1030

£19.80

£180k+ - £499k

£2300

£44.23

£500k+

£5000

£96.15

The table has been developed based on calculating the average median value for all rateable properties in the area which is £9,900: we believe that £250 per year is a reasonable and affordable levy charge for the ‘average’ business but have acknowledged that very low rateable values should pay below this rate.  Broad ‘uplifts’ for bandings above this level have then been set to reflect the size of the business and have allowed for all multiple retailers to be included as levy payers.

Who Pays

All businesses within the 30 mph area must contribute, which have a rateable value of £3000 or above. Businesses include all non-domestic ratepayers including

  1. town centre retailers and hospitality providers
  2. financial and professional sector offices
  3. tourism accommodation providers
  4. industrial estate businesses, retailers and wholesalers
  5. visitor attractions

 Premises/ non-domestic ratepayers which are exempt from payment are: 

  • places of worship
  • non-retail charities
  • educational, social care and emergency services.
  • all business properties with a rateable value of under £3,000. 

The BID investment levy is the principle source of income for the BID and is be charged annually.

The levy will also be used to lever in additional funding from other sources.