Metered on-street parking rates may soon rise to match inflation.
A new front opened up on the vicious war on the car today—though the assailant came from an unexpected quarter. The Toronto Parking Authority thinks that the cost of on-street parking should, shocker, rise with inflation.
Rates haven’t gone up since 2007 and as we all know, money doesn’t go as far as it used to. This is true for the municipal government as much as any of us, and in this case, true of the revenue they get from parking. In order to match the 10 per cent increase in Toronto’s consumer price index since that time, the TPA is requesting that city council authorize the following price increases:
- Spaces currently at $3.50 per hour go up to $4.00 per hour
- Spaces currently at $2.50 per hour go up to $3.00 per hour
- Spaces currently at $2.00 per hour go up to $2.25 per hour
The proposal will be considered by the Government Management Committee next Wednesday; if it is approved there it will go to full city council for a final vote.