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BID levy bills 2012/13
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You may have noticed that the BID levy bills sent out in late March 2012 have not increased in line with inflation this year (2012/13) as per the Business Plan (page 19) and will be for the same amount as in 2011/12. The BID Board felt that the rate (which was set in September 2012 as a legal requirement) of 5.6% was not reflective of the likely costs we are expected to pay in 2012/13 particularly with inflation coming down sharply since then. Therefore the Directors have made the decision to freeze the levy amount even though there is no obligation to do so. Therefore with the levy amount 1.5% in year 1 which then increased to 1.56% in year 2 (2011/12), this latter figure is the amount to be paid in the current year. (Those in managed shopping centres will contribute 0.78%).
