When setting the proposed levy for Cheltenham, we took both the results of the business survey and subsequent consultation with businesses, and also the levels set by a number of established BIDs, which we have used for comparison. We have therefore chosen to set the basic annual levy at 1.25% of the rateable value of the premises.
This figure is slightly less than the average of the comparative BIDs we have used, although is also sufficient to generate a significant income which is needed to carry out the projects that businesses have told us that they want to see enacted.
The following BIDs are considered to represent a comparable sample range to Cheltenham in terms of size, geographical spread, BID levy percentage and overall income.