• The BID targeted rate is charged to Commercial property owners within the BID boundary via their Auckland Council rates bill. Landlords may then pass this rate (or a portion of) onto Business tenants under the terms of their lease.
• Silverdale Business has reviewed the options and considers the hybrid rating mechanism is the most equitable approach to calculate the BID Targeted Rate for the Silverdale Business area.
• The Annual targeted rate is based on a base rate of $400 plus a small percentage of their property’s capital value (CPV) to collectively reach a budget of $500 000.
• The exact percentage (currently 0.00017919) may vary slightly on changes to the number of businesses operating within the Silverdale core boundary or on property valuations.
• You can calculate your portion by multiplying against the capital value that appears on your rates invoice.
You can use this form to work out how much your targetted rate would be.