The BID is calculated based on the rateable vale of your business. A levy of 1.5% is added to your business rates, and is collected by Eastbourne Borough Council. This money is then ringfenced for the sole use of the BID.
We have provided a basic calculator below to determine what your annual levy would be. Please note, properties within the Beacon will receive a 15% discount on their levy.
Everyone within the BID area with a rateable value of over £6000 will be required to pay the BID, regardless of whether or not you have a reduction of your business rates. The only exemption under our BID are charities without a retail unit or NHS only properties.
You can find your rateable value by clicking here
2. This is the levy amount (1.5%)
3. This is the total levy contribution.