Hull BID Levy
Hull BID came into operation on 1st November 2006, following a poll conducted by the Electoral Reform Service of all eligible non-domestic ratepayers in the BID area.
The levy is equivalent to 1% of non-domestic rateable value on all hereditaments listed in the 2010 Non-Domestic Rating List that have a rateable value of £1000 or more and that are within the BID area. Registered charities that are in receipt of a rate reduction pay only a 0.2% levy.
If you are located in a shopping centre, you will still pay the 1% levy BUT the shopping centre management have agreed to reimburse 50% of this.
The levy raises approximately £440,000 per annum. Voluntary contributions, events revenue and other funding will bring in additional funds.
The funds are allocated by Hull BID to address the priorities identified by the business community, particularly to make specific improvements over and above the existing statutory services provided by the Local Authority and the Police; so the BID does not replace or subsidise existing services, but enhances them significantly.
The latest budget information is available on request.
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