What is a Business Improvement District (BID)?
A business improvement district (BID) is a defined area within which businesses pay an additional tax or fee in order to fund improvements within the district’s boundaries. Grant funds acquired by the city for special programs and/or incentives such as tax abatements can be made available to assist businesses or to recruit new business. BIDs provide services, such as cleaning streets, providing security, making capital improvements, construction of pedestrian and streetscape enhancements, and marketing the area. The services provided by BIDs are supplemental to those already provided by the municipality.
How was King of Prussia District formed?
The King of Prussia District was formed in 2010 by an Upper Merion Township Municipal Ordinance and by vote of the property owners within its boundaries. King of Prussia District’s first programs began in January 2011.
How many properties are in King of Prussia District?
There are more than 450 properties within King of Prussia District’s boundary but only 304 properties are currently assessed. Assessed properties are those that have a commercial zoning classification.
What is the assessment fee?
The fee paid by assessed property owners is .00089 mils on the tax rate. Roughly, this equates to approximately 4% of a property owners total tax bill. The fee is paid one time per year and collected directly by King of Prussia District.
How much revenue does the assessment fee generate?
The assessment fee generates approximately $1,230,000 per year.
How large is King of Prussia District’s area?
King of Prussia District covers approximately 1,900 acres or nearly 3 square miles! If you were to overlay King of Prussia District’s boundary on top of Philadelphia, it would cover nearly all of downtown Philadelphia from river to river! Click here for a map of King of Prussia District.
What is the assessment fee used for?
The assessment fee is used for programs to improve the physical environment, market and promote the community, conduct research projects on tax policy and land use& zoning and development initiatives to improve multi-modal transportation. Learn more about KOP-BID programs and projects here.
How is King of Prussia District governed?
King of Prussia District is governed by a 17 member Board of Directors. The three (3) largest assessed properties are guaranteed a seat on the Board. Upper Merion Township is also guaranteed one seat on the Board. The remaining Board members are a diverse mix of large and small property owners representing various industries throughout King of Prussia.
Is King of Prussia District a government entity or municipal authority?
King of Prussia District is a private, not-for-profit 501(c)(3) organization. It is NOT a government entity or a municipal authority. King of Prussia District does, however, have the legal authority to place liens on property owners who do not pay their assessment fee.
How many employees work at King of Prussia District?
King of Prussia District employs five (5) people, an Executive Director, Director of Marketing & Communications, Director of Capital Projects and planning, Administrative & Financial Assistant and a Digital Marketing Associate.
Can I join King of Prussia District?
Property owners within the Business Improvement District area may ‘join’ by paying the assessment fee equal to 0.00089 mils of the county assessment rate. Since King of Prussia District is a private, not-for-profit 501(c)(3) organization, organizations and individuals who support our mission and goals can make tax deductible contributions to help us continue to improve King of Prussia. Interested in donating? Contact us today!
How long will King of Prussia District last?
King of Prussia District is currently authorized for five (5) years. At the end of the fifth year, assessed property owners will have the opportunity to vote to renew King of Prussia District.
How can I reach King of Prussia District with my questions?
For more information, you may contact us at:
King of Prussia District
234 Mall Boulevard, Suite 150
King of Prussia, PA 19406