Chicago parking meter rates will be going up again in 2013. The news is not going over well with Chicago area drivers. Many feel they already pay the meters too much.
Meter rates for much of the street parking in the Loop will jump to $6.50 an hour, an increase of 75 cents, making Chicago the nation’s most expensive city for street parking.
The private company with a 75-year lease on Chicago’s 36,000 metered spaces announced the price hikes for the new year.
While some believe that will free up more spaces, others are vowing to drive even less.
Rates just outside the Loop will go up to $4 an hour. Outlying areas will cost 25 cents more, or $2 an hour.
Chicago Parking Meters LLC plans to have all the pay boxes adjusted by the end of February.
The city is under contract only going into the fifth year of the 75-year deal brokered by former Mayor Richard Daley.
Last year alone the private meter company netted over $108 million.
For more information, log on to www.chicagometers.com.