2012 Budget

In the five year plan of the Downtown Victoria Business Association, the 2012 budget is identified as being $928,367.

Income
BIA levy $ 928,367
Expense
Administration $ 297,077.44 (32%)
Clean & Safe & Beautification $ 259,942.76 (28%)
Marketing & Events $ 334,212.12 (36%)
Networking & Partnership $ 37,134.68 (4%)
Total Expense $ 928,367 (100%)

The current annual budget of the DVBA has been developed using a Business Improvement Area levy rate of less than 60 cents per $1000 of assessed value for all class 5 & 6 commercial properties, except hotels. All hotels within the BIA boundaries are assessed at less than 30 cents per $1000 of assessed value, in recognition of their financial contribution to tourism promotion through payment of a room tax.

Since 2005, the BIA levy ratio has progressively dropped from 80 cents/$1000 to 60 cents/$1000 for class 5 & 6 commercial properties and from 40 cents/$1000 to 30 cents/$1000 for hotels.  In the coming five years, it is anticipated that the BIA levy ratio will continue to drop in a manner similar to the first five years.

The following are the proposed annual budgets for the 2010-2014, based on an increase of 2.5% per annum:


2010 2011 2012 2013 2014

$883,633 $905,724 $928,367 $951,576 $975,365