Parking meters revenues doubled following pandemic in Montreal
Posted July 4, 2024 11:29 am.
Revenues from the parking meters have surpassed pre-pandemic levels. In 2023, the city of Montreal generated nearly $63 million from paid on-street parking, a record-high for the last several years.
According to the Agence de mobilité durable de Montréal (AMD)’s annual report published Wednesday, the profit margins were $55 million in 2022, compared to $33.1 million in 2020 and $39.3 million in 2021.
Parking meter rates have increased each year, while the need for parking has never decreased.
Additionally, free parking spaces have been turned into paid parking in several neighbourhoods and boroughs.
The number of parking garages are also the rise, with 1,184 in 2022 to 1,268 created in 2023.
