Parking meter rates will rise, following a unanimous vote Tuesday by the San Francisco Municipal Transportation Agency Board of Directors.
Parking meters will go up by 25 cents per hour citywide. Maximum rates for parking meters vary across The City, from $2 in some areas to $6 in the most trafficked neighborhoods.
The most expensive parking meter in The City may now cost as much as $6.25 per hour.
Parking meter rate-hikes will kick in 31 days from Jan. 5, at the beginning of February.
As the Examiner previously reported, the rate hike was proposed after The SFMTA was told by Visa to drop a 27 cent transaction fee for debit and credit cards on the new “smart” meters in July last year. Smart meters recently replaced all 30,000 or so regular meters across The City.
The credit card company said the fee violated an agreement between SFMTA and Bank of America Merchant Services.
If the agency did not raise parking meter rates, it may have lost as much as $6.2 million from its annual budget, according to the SFMTA
The parking meter rate increase shifts who pays the fees. Before, only credit card, debit card and pay-by-phone users on the new “smart” meters paid the fee. Now, everyone who pays a parking meter will feel the increase.