Parking fees are one of the largest revenue contributors for the City of Victoria. (Nicole Crescenzi/News Staff)

Victoria parking fees bring in more than $17 million every year

Parking fees make up seven per cent of the city’s annual revenue

The City of Victoria will be instating parking fees on Sundays starting May 1, aiming to garner an extra $600,000 per year to put towards youth transit passes.

But just how much revenue does parking bring to the city?

READ MORE: Victoria gears up to axe free parking on Sundays

It’s more than $17 million – and that’s without Sunday parking fees.

In the 2019 draft budget, the City of Victoria declared that seven per cent of its annual revenue comes from parking, totalling $17.7 million.

This money comes collectively from almost 2,000 on-street parking spots, five parkades, three surface lots and parking tickets.

ALSO READ: Downtown Victoria Business Association not opposed to Sunday parking fees

The majority of funding – $8.8 million – comes from street parking and surface lots. Another $5.5 million comes from parkades, which will remain free on Sunday after May 1.

More than $3.4 million comes from parking violations every year, so next time you overstay your parking time or leave your car in a no-park zone you can at least be assured that you’re not alone in contributing to the municipal budget.

nicole.crescenzi@vicnews.com


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