The Reality of Business Improvement Districts – It Costs You

The Reality of Business Improvement Districts – Are you a Businessman? It Costs You

A Business Improvement District, once enacted, is mandatory for ALL the businesses in the district. Once it's established, a Business Improvement District cannot be ignored by those not interested. It's no longer a matter of “letting those do-gooders fall on their face” - it's now YOU paying the bills – a Business Improvement District takes YOUR MONEY. Each business Tax Key will be required to pay (estimated) $100 per $100,000 assessment. If you have more than one tax key, you have more than one mandatory entry in this sweepstakes of deterioration.

One entry for EACH tax key. Your Money – confiscated by the City Government, with the same authority as property taxes. Not an optional thing. This means if your building is for example assessed at $200,000, you'll have to pay (est @ $100/100k) $200 every year, as an enforceable, MANDATORY part of your property taxes. Of course, the building owners with business tenants will be forced to add this to the rent collected, making it more expensive for businesses to operate, and less attractive for new businesses to move into the area. Less attractive - more expensive - for new businesses to move into the area.