The impact of business improvement districs on property values

Abstract

This study focused on the impact of Business Improvement Districts on commercial property values in Liverpool’s Business Improvement Districts: the City Central BID and the Commercial District. The major objective of this study is to see to what extent the formation of Business Improvement Districts led to changes in commercial property values in order to assess the impact and effectiveness of Business Improvement Districts. The concept of Business Improvement Districts – in which members of a certain district pay local levies that return to their district – has spread throughout the world since it was first established in Canada in the 1970s. As a result of the policy transfer, Business Improvement Districts differ locally, nationally and internationally. This study was conducted in Liverpool, in which two Business Improvement Districts have been established since 2005 – after a UK pilot proved success.