The annual budget of a CBID is set by the Owners Association and is determined by the level and type of improvements and activities that property owners within the district wish to implement. As a result, CBID budgets range in size from under $100,000 to several million dollars.
Assessments are generally set using three metrics: Building area, lot square footage and linear property frontage. Below are examples of various formulas.
Example A | Example B | Example C | |
Building square feet | $0.20 | $0.15 | $0.10 |
Lot size in square feet | $0.10 | $0.06 | 0.05 |
Linear frontage in feet | $6.00 | $2.00 | $4.50 |