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.

Send a Tweet: @NicoleCrescenzi

Like us on Facebook  

City of Victoriaparking

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

One dead as fish boat sinks off southern Vancouver Island

Shawnigan Lake-registered Arctic Fox II went down off Cape Flattery, west of Victoria

Saanich council seeks more information after hearing Uptown-Douglas plan

Council asks for further reports on economic, housing, transportation plans for corridor

Three active COVID-19 cases on Vancouver Island

Since July 24, Central island has had five new cases, North one, South none

Victoria police seize replica handgun and bullets

Unrelated call leads police to functional replica

Flaming object thrown through Victoria restaurant window

Police looking for any witnesses to early-morning incident

Man, 54, charged in connection with fatal attack of Red Deer doctor

Doctor was killed in his walk-in clinic on Monday

Landlord takes front door, windows after single B.C. mom late with rent

Maple Ridge mom gets help from community generosity and government

42 more people test positive for COVID-19 in B.C.

The province has recorded no new deaths in recent days

Joe Biden selects California Sen. Kamala Harris as running mate

Harris and Biden plan to deliver remarks Wednesday in Wilmington

Lawsuit launched after Florida child handcuffed, booked and briefly jailed

Suit alleges “deliberate indifference” to what should have been handled as a behavioural issue

Russia approves vaccine, Putin hopes to begin mass production

Critic calls decision to proceed without thorough testing ‘dangerous and grossly immoral’

Doctor slain in Alberta medical clinic was devoted father, husband

Red Deer doctors on edge after attack on colleague who had two young daughters

Feds offer ‘life preserver’ funds to BC Ferries as pandemic sinks revenue

For every dollar the province spends the federal government will match

Most Read