Central Milton Keynes businesses voted almost 97% yes to keep MyMiltonKeynes BID to 2032. About 460 firms will pay a 1.8% levy, raising more than £9m.

Businesses in Central Milton Keynes have voted to keep paying for the MyMiltonKeynes Business Improvement District (BID) for another five years.

Almost 97% of votes cast backed renewal, the city council announced on 23 October. The result gives the BID a new term from 2027 to 2032. The council did not publish the turnout or the share of rateable value that voted yes. Both majorities were needed for the BID to continue.

What a BID is

A BID is a levy that businesses in a set area agree to pay on top of their business rates. The money goes to a business-led company that spends it on things the council does not normally provide. In Central Milton Keynes that company is MyMiltonKeynes.

The council says more than £11 million has gone through MyMiltonKeynes since 2017. It has paid for city centre security, public realm work, marketing and events.

Who pays, and how much

The rules are set out in MyMiltonKeynes’ 2027 to 2032 business plan, which was the proposal businesses voted on:

  • Only larger premises pay. The levy applies to properties with a rateable value of £50,000 or more. About 460 properties are liable.
  • The rate is 1.80% of rateable value, billed once a year from 1 June 2027.
  • It rises each year with inflation, by the March CPI figure, but never by less than 3% or more than 5%.
  • The most any one property pays is £30,000 a year.
  • Empty units still pay. The ratepayer of an untenanted property is liable.
  • Only organisations on mandatory rate relief, such as charities, are exempt. There are no other reliefs.

The BID boundary is the same as in the current term.

Where the money goes

The plan forecasts £8.5 million from the levy over the five years, plus £0.75 million from other sources, which is where the “more than £9 million” figure comes from.

Theme Share Five-year budget
Enhance (a cleaner, safer, more attractive centre) 38% £3.55m
Experience (making the centre a destination) 27% £2.50m
Shape (influencing the centre’s future) 11% £0.99m
Connection (bringing businesses and partners together) 9% £0.79m
Admin and operating costs 16% £1.47m

The figures assume 95% of the levy is collected. Projects named in the plan include “5PM-K”, a set of evening economy initiatives, and a “Milton Keynes Ready to Respond” scheme to help businesses prepare for incidents and emergencies.

What it means for you

If you work in or visit Central Milton Keynes, little changes on the street. The BID already pays for the city centre’s BID Bobbies security patrols, which the plan says will continue, and helps put on events such as the Christmas lights switch-on. The vote means that money keeps flowing until 2032.

If your business occupies premises in the BID area with a rateable value of £50,000 or more, expect a levy bill each June from 2027. Smaller premises do not pay but can join as voluntary members. The BID is on 01908 395099 or info@mymiltonkeynes.co.uk.

Elsewhere in the city, the council’s separate High Street Events Grant Programme is open to groups in Bletchley, Newport Pagnell, Olney, Stony Stratford, Woburn Sands and Wolverton until 8 November.