How The New Budget Hits Drivers

Red Eye:

Higher taxes
Parking costs have risen nationwide for the fifth year in a row--2.8 percent for monthly rates and 4.3 percent for daily rates--according to a 2008 survey by Colliers International, a global real estate services company. While the national median daily parking rate is $15.42 and monthly rate is $153.79, Chicago's rates are much higher. The city's daily average is $30 and monthly average is $310, behind only New York, Boston and San Francisco.

It's about to get even more expensive. The parking tax increases from $2.25 to $3 on daily tabs $12 and higher. Nearly $98.4 million in parking tax revenue will be collected, the city estimates, up from $87 million expected this year.

The Parking Industry Labor Management Committee, which represents operators, owners and workers of parking garages in the city, opposed the increase.

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