The BIA Tax (we prefer the term Levy) is 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 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 2025 the Marda Loop BIA levy is $220,000, and a mill rate 2.2% of assessment value. The 2025 rate is lower than our ten-year average rate of 2.4%. The levy “mill rate” is affected primarily by the size of the revenue ask, the number of businesses sharing the load, and the pace of openings and closings. In the last year the BIA grew in number of businesses, but did not increase the levy amount, so the rate went down.