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Blackburn EDZ BID - What will it cost?
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| The BID is funded ... |
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Through an additional levy placed on the business rates
The charge to businesses will vary depending on their Rateable
Value
The BID levy is paid in a single payment annual bill with annual amendments |
The BID levy is structured through a banding system outlined
in the draft bands below, based on the 2005 rating assessment as
listed on the valuation office website ( www.voa.gov.uk) as at April 1,
2007. |
| Band |
Rateable Value (£) |
£ per business |
No. Properties |
Exempt |
5,000-9,999 |
£0 |
350 |
A |
10,000 - 17,499 |
£350 |
89 |
B |
17,500 – 24,999 |
£450 |
45 |
C |
25,000 - 49,999 |
£650 |
55 |
D |
50,000 - 99,999 |
£850 |
36 |
E |
100,000 - 199,999 |
£1,000 |
15 |
F |
200,000 - 499,999 |
£1,500 |
4 |
G |
Above 500,000 |
£2,000 |
2 |
Total eligible properties
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246 |
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Note: Figures show year 1 costs. Following years will be increased by a factor of 3% per annum. |
- The levy will be invoiced by Blackburn with Darwen Borough Council annually as a single payment.
- Individual hereditaments with a ratable value of below £9,999 will
be exempted from the BID levy.
- There will be no exemptions for void properties / empty properties /
charities / hardship.
Any new hereditaments added to the non domestic rating list during
the initiative will be liable to pay the levy.
- Any valuation adjustments, successful appeals, or new
hereditaments will be adjusted annually on September 1.
- A business that is in occupation of a hereditament on September 1,
will be liable for the BID levy for that year.
- Where a premises is vacant on the September 1, the liability to pay
the annual BID levy will revert to the legal occupier (e.g. leasehold
or freehold interest, etc)
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| Once collected the BID levy is passed to a body which will deliver
the BID improvements. See BID Company page. |
| Payment of the levy may be made by direct debit. Click here to download a Direct Debt form. |
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