How we developed the proposed levy

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.