A Business Improvement District (BID) is a defined area in which a levy is charged on all business rate payers in addition to the business rates bill. This levy is used to develop projects within the BID area. Businesses that are subject to the levy, as set out in the proposals, vote in a ballot. This determines whether the scheme goes ahead.
A successful vote is one that has a simple majority both in votes cast and in rateable value of votes cast. Each business entitled to vote in a Business Improvement District ballot is allowed one vote in respect of each property occupied or (if unoccupied) owned by them in the geographical area of the Business Improvement District.
Once the Business Improvement District is in operation the levy is charged on all businesses within the Business Improvement District area (regardless of whether or how that business voted in the ballot).
Ballot papers will be dispatched no later than 11 October 2018 to all business entitled to vote.
For further information please call 020 8889 9203 or visit www.electoralreform.co.uk.
Information on Business Improvement Districts
Page last updated 14/01/2019