Parking prices in New York will rise by 20% in October
Starting in October, an innovation will come into force in New York: the cost of metered parking will increase by 20%. This rate adjustment will vary in each borough of the city and, even, in specific neighborhoods within the borough, as reported by Fox5ny.
The Department of Transport has decided to increase tariffs in order to reduce traffic congestion and make it easier for drivers to find parking spaces. This demand-based pricing strategy assumes that parking will cost more in more popular and congested areas, while prices may remain lower in less congested areas.
The decision has drawn mixed reactions among New Yorkers and drivers, with some believing it will help ease traffic jams and make the streets more walkable, while others fear that raising parking prices will make it less affordable for many people. Either way, these changes to parking meter rates will take effect from October, and drivers should be prepared to adapt to the new parking conditions in the city.
Midtown & Downtown
First hour: $5.50 (22% more than $4.50)
Second hour: $9 (20% higher than $7.50)
Total for two hours: $14.50 (21% more than $12)
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Parking meters for passenger cars in areas south of 96th Street will increase by $1 and cost an additional $1.50 per hour thereafter.
Tariffs will increase from October 16.
First hour: $3 (20% higher than $2.50)
Second hour: $5 (25% higher than $4)
Total for two hours: $8 (23% more than $5).
Tariffs will increase from October 27.
First hour: $2.50 (25% higher than $2)
Each subsequent hour: $5 (25% higher than $4)
Total for two hours: $7.50 (25% higher than $6).
Starting November 9, parking in Brooklyn will increase at the same rate as in Queens, and then, starting November 22, it will increase in the Bronx.
Parking rates on Staten Island will also rise on November 28 to match those in Brooklyn, Queens and the Bronx.
Revenues generated from the new parking meter rates will go into the city’s general budget. A detailed map of the new tariffs is available at this link.
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