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Will the full levy amount be allocated to the CID by CoCT or do they take a cut?

Written by 0vdge on . Posted in FAQResi.

100% of the levy is ring-fenced and allocated to the CID. Every month the City will pay over 97% of the amount theoretically owing, regardless of what is collected. At the end of every financial year, a reconciliation for bad debts is done, whereafter the 3% retained every month will be paid over after deduction of actual non-payments.