Changes coming to downtown Lexington parking
LEXINGTON, Ky. (WKYT) - Whether you’re in Lexington to go to work, catch a game at Rupp or enjoy a night out, get ready to pay a little more for parking.
If you’re a customer of Lex Park, you likely received a letter from them recently. It’s to let you know that on the first of the new year, a sales tax will be applied to all of their parking services throughout the city.
It comes from the passing of House Bill 8 in the last legislative session, which made a multitude of changes to Kentucky’s tax code. The 6% tax will apply to on-street metered parking and hourly or daily parking in lots and garages, among other things.
That tax might not seem like much to someone who’s just putting an hour into a meter, but over time it adds up. For example, people who park monthly in the transit center garage along East Vine Street pay $65 a month. That will add $3.90 to each of their bills, totaling nearly $47 over the course of the year.
Lexpark executive director Gary Means says it will mainly impact long-term parkers.
“We have a monthly parking rates that range from 60 a month to 100 a month, so 6% on top of that is a pretty hefty hit,” Means said.
However, he says it will also serve as a challenge during special events like games at Rupp Arena, and the solution will likely mean raising rates to give people even numbers.
Mark Garrison lives and works in Lexington and points out that his company covers his parking costs, so the burden is shared.
“parking definitely affects not only the way we make plans as Lexingtonians in downtown. But also businesses as well, they have to comp those parking passes, or some of them lease certain spaces,” Garrison said.
Garrison recommends making a plan before you come downtown; something as simple as carpooling and taking one car instead of two could help you cut down on those new costs we will be seeing this January.
Means added that last year’s sales tax estimate is likely low because of the impacts of COVID. He believes the parking authority could bring in as much as $250,000 for the state.
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