Altham BID Levy & Collection
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| The BID levy will be structured through a banding system outlined below, based on the 2005 Rating Assessment as listed on the Valuation Office website at 15 September 2006 |
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| Band |
Ratable Value (£) |
Levy (£) |
A |
Up to 29,999 |
600 |
B |
30,000 – 80,999 |
900 |
C |
Above 81,000 |
1200 |
| (year 1 levy, future years will increase by an inflationary factor of 3.5 per year) |
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If the Ballot is successful the BID levy will have the same status as your Non-Domestic Rates Bill (i.e. it will be a Statutory Debt) |
| The levy will be increased annually by an inflationary factor of 3%. |
| No individual hereditament within the Altham BID area will be exempted from the BID levy. |
| 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 1st January. |
| A business that is in occupation of a hereditament on 1st January will be liable for the BID levy for that year. |
Where a premises is vacant on 1st January the liability to pay the annual BID levy will revert to the legal occupier (e.g. leasehold or freehold interest, etc.) .
The levy will be collected by Hyndburn Borough Council as a single payment.
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