NYC's parking meter rates set to rise by 20% starting in October

Parking meter rates to increase by 20%

While the rate hikes are not welcome by some commuters, these new prices will encourage higher turnover, which experts said is better for local businesses. FOX 5 New York's Arthur Chi'en has the latest.

NEW YORK CITY - Starting in October, New York City will implement an increase in parking meter rates by 20%.

The rate adjustments will vary depending on the borough and even specific neighborhoods within those boroughs.

The Transportation Department aims to ease congestion and make it easier for drivers to find parking spots through demand-based pricing.

Parking meter rate hits

FOX 5 NY's Dan Bowens explains how much you'll have to pay.

Midtown & Downtown:

First hour: $5.50 (up 22% from $4.50)
Second hour: $9 (up 20% from $7.50)
Total for two hours: $14.50 (up 21% from $12)

Manhattan:

Parking meters for passenger cars in areas south of 96th St. will go up $1 and cost an additional $1.50 for each subsequent hour
North of 96th St., meter fees will rise by varying amounts

East Harlem:

Rates increase starting Oct. 16.

First hour: $3 (up 20% from $2.50)
Second hour: $5 (up 25% from $4)
Total for two hours: $8 (up 23% from $5)

Queens:

Rates increase starting October 27th.

First hour: $2.50 (up 25% from $2)
Each subsequent hour: $5 (up 25% from $4)
Total for two hours: $7.50 (up 25% from $6)

Brooklyn parking rates will increase starting November 9 at the same rate as Queens, followed by the Bronx on November 22.

Staten Island rates will go up to match those in Brooklyn, Queens and the Bronx on November 28.

The revenue generated from the new parking meter rates will contribute to the city's general fund. For a comprehensive map of the new rates click here.