The BIA Tax or Levy raises a budget amount that set by the Board of business members annually to pay for BIA operations and capital expenditures. The cost is divided among all the area businesses proportionate to an Assessment of each business premises made by the City’s tax department. Factors that go into the Business Assessment include square footage, age and type of property. Note that the levy goes to business owners, not to the property owners. Here is a link to the City’s Business Valuation Methodology (PDF). Like property tax assessments, business assessments can be appealed. You can learn more about the BIA Tax and Assessments here.
In 2026 the Marda Loop BIA levy, which funds our budget, is $220,000, which works out to a “mill rate” 2.275% of assessment value. That means that if your business premises is assessed at $10,000 (for example), your Levy would be $227.50. the The 2026 rate is slightly lower than ten-year average rate of 2.378%. The levy “mill rate” is affected primarily by the size of the revenue ask (in 2026, $220,000), the assessed value of the whole area (about $10M), and the number of businesses sharing the cost. On this last factor, the pace of business openings and closings can play a role, as the levy on individual businesses is pro-rated based on number of months in business.