BID business rates
A Business Improvement District (BID) Levy is payable by ratepayers, in addition to the Business Rates, if they operate a property of a certain type that falls within a BID area.
The Council collect this Levy on behalf of an independent company running a programme of additional services over and above that provided by the public sector.
A BID can only operate if the majority of the businesses affected vote in favour of one being put in place.
The current Nottingham BID has been in operation since 1 January 2016. This operates in the city centre and currently includes all commercial premises where the rateable value is £25,000 or more. The current BID term will end on 31 December 2020.
For further information on Nottingham BID, please see their corporate website.