Vauxhall One BID levy set at 1.56% would raise up to £1.44m a year from 2027

Lambeth's cabinet member for economy, cost of living and empowered communities is due to decide on 21 August whether to order a ballot on a fourth term for the Vauxhall One business improvement district, which the officer report projects would raise between £1,216,000 and £1,443,000 a year. A business improvement district is an area where firms pay a levy on top of business rates to fund services the district picks.

Businesses with a rateable value of £25,000 or more would pay 1.56% of that value, on the 2026 ratings list. The report states the rate would be uplifted annually in line with inflation, at a rate set by the Vauxhall One board and not exceeding the retail price index.

The Smoke reported last week that the council's decision record gave no levy rate and no count of the businesses entitled to vote. The report published alongside it on 13 August gives the rate and the income.

Across the proposed five-year term, from 1 April 2027 to 31 March 2032, that projection comes to between £6.08m and £7.22m. The report states the budget assumes a 95% levy collection rate, and splits the income across four themes: 24/7 Vauxhall takes 36%, Destination Vauxhall 35%, Great Places 19% and Streets for People 10%.

Smaller premises stay outside it. Units with a rateable value below £25,000 are exempt, along with ATMs, telephone kiosks, car parks, advertising rights, residential estate offices, adventure playgrounds and state-funded schools. Ratepayers with mandatory or discretionary rate relief would have the levy discounted by half, and empty properties pay at half rate.

The council pays the levy too. The report states Lambeth is liable on two properties inside the area, at a combined £1,290.90 for 2026/27, already paid.

The last term covered more than 300 businesses, according to the report, and the proposal extends the boundary to take in Cutlers Way, Exchange Gardens, Gasholder Place, Graphite Square and Jonathon Street. Consultation ran from June 2025 across three strands and drew 383 responses, with a business survey reaching 300 levy-paying organisations.

Winning requires two majorities. The report states the proposal passes only if a majority of those voting are in favour and the total rateable value of those voting in favour exceeds that of those voting against.

One date in the report's timetable runs ahead of the decision. It lists the instruction to hold the ballot on 20 August, the day before the cabinet member is due to decide, with the call-in period ending on 28 August. Call-in is the process by which councillors can ask for a decision to be reviewed before it takes effect.

The ballot itself runs through the autumn. Notice is set for 3 September, papers go out on 5 October, voting closes at 5pm on 5 November and the result is declared on 6 November, with the new term starting on 1 April 2027 if the ballot succeeds.

The £2,500 cost of running it comes from existing electoral services budgets. The report states the council can recover that cost if fewer than 20% of businesses vote in favour.