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In order to accomplish these goals, it was necessary to create a revenue source. As such, B.I.D.'s were authorized by local or state legislation, which granted limited taxing power within a specified geographic areas. The tax is imposed on all property owners within the area, thereby creating a pool of revenue to be used for a common purpose...
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The uniqueness of this taxing authority, however, is that all (100 percent) of the revenue goes from the taxing authority directly to the management company or the non-profit corporation designated to administrate the B.I.D. program. The result is the area obtains the benefit of increased resources, without any particular company or property owner having to bear a substantial financial burden...
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