SF approves parking meter rate hike to help SFMTA's projected 320 million budget deficit

San Francisco's Municipal Transportation Agency is set to increase parking meter rates by $0. 25 an hour in a bid to combat a looming $320 million budget deficit. This decision has sparked concern among residents, such as Garrett De La Concepcion, who already faces daily parking costs of up to $60 during events. Business owners like Kenneth Escalante from Cenote Restaurant are also apprehensive, fearing that the rate hike will drive away customers who find parking too expensive. The SFMTA board voted to amend the Transportation Code, raising the minimum parking meter rate from $0.

50 to $1, along with a new $0. 10 convenience fee for mobile payments. Sofia Guglani, owner of Avotast, pointed out that the increased rates could also affect suppliers, who may raise their delivery fees due to higher parking costs. The overall sentiment among stakeholders indicates a growing concern over the financial burden of parking in the city. As the city prepares for these changes, the impacts on residents, businesses, and service providers remain uncertain.

The new rates are expected to go into effect in late May 2025.