Coleraine Business Improvement District is an opportunity for all organisations in town to work together, contributing for the benefit of the entire town and for all of those who use it. The BID model ensures that all of the organisations who benefit from being in the town make a fair financial contribution according to their size. “When we come together we can do amazing things!”.
The levy is payable by all non-domestic properties within the BID area that are listed on the Local Non-Domestic Rating List (2018) with a rateable value of £2,500.00 or above.
To qualify for any exemption on your levy payment you can provide proof of the following to the finance committee of Coleraine BID:
- You are an active charity who provides a community service but does not benefit from any retail, landlord, sub-lease or other trading income of any kind.
- You are a place of worship only which does not benefit from any retail, landlord, sub-lease or trading income of any kind.
How much will I pay?
The annual BID levy for the town of Coleraine is set at 2% of the Rateable Value of each eligible property (hereditament) as set out in the Local Non-Domestic Rating list for that financial year. To calculate your annual BID Levy in advance of your bill, based on a 2% charge, divide your rateable value (RV) by 100 and multiply by 2. Examples are given in our 5 year plan.
When will I pay?
The BID levy will be collected by the Billing Body, The Causeway Coast and Glens Borough Council, on behalf of Coleraine BID. Levy bills will be issued to Stakeholders in November of this year.
Do I have to pay the BID levy?
Under Northern Ireland BID legislation, all organisations within the defined BID area have an obligation to pay the levy each year for a total of five years. Collection of the BID levy carries the same enforcement weight as collection of the non-domestic rates.