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How to Calculate your Maximum BID Assessment

*The rate displayed on the ballot represents the maximum Annual Assessment Rate. Rates may undergo annual adjustments determined by the budget, yet they are restricted from exceeding the maximum specified on the Ballot. The BID formation Steering Committee expects to start billing at 25% less than the maximum rate, and maintain this lower rate for as long as possible. 

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How to Calculate Your Maximum Annual BID Assessment:

Calculating your Business Improvement District (BID) assessment is a straightforward process. Follow these step- by-step instructions based on your property class:

Step 1: Identify Your Property Class:

• Determine the classification of your property as Class A, A.1, A.2, B, C, D, or D.1. To do this, please reference the above map. If you are unsure about your property class, please email us at info@ConeyIslandBID.org. Note that Class A, A.1 & A.2 include Amusement Area NYC owned properties with a commercial lease.

Step 2: Follow the guidelines for your property's Class:

Class A (Amusement Area lots with ground- floor commercial, parking lots, and vacant lots):

Look Up Lot Area (a.k.a. Land Area) on the NYC Department of Finance (DOF) website. Apply the Formula:
 Assessment=(Lot Area×$0.53)+$1000

Class A.1 (Amusement Area mixed-use properties, or any property in the Amusement Area with above-ground commercial use):

Look Up Commercial Square Footage (CSF) (a.k.a. Commercial Area) on the NYC Department of Finance (DOF) website.

Apply the Formula:
 Assessment=(CSF×$0.53)+$1000

Class A.2 (Amusement Area commercial lots over 90,000 square feet with no above- ground commercial use):

Look Up Lot Area (a.k.a. Land Area) on the NYC Department of Finance (DOF) website.

Apply the Formula:
Assessment=(Lot Area×$0.26)+$4000

Class B (Mermaid Area commercial, mixed- use, vacant, and parking lots):

• Look Up Lot Area (a.k.a. Land Area) on the NYC Department of Finance (DOF) website.

Apply the Formula:
 Assessment=(Lot Area×$0.53)+$250

 

Class C (Residential):
• Residential properties have a flat

assessment fee of $1. 

 

Class D (Government/Nonprofit):

  • Government and nonprofit properties have no BID assessment, with a fee of $0.

Class D.1 (Contributing Nonprofit):

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