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New York City Weighs Expanding Metered Parking to Tackle $5.4 Billion Budget Gap

Officials have not reached a decision, with outside analysis estimating up to $1.3 billion in annual revenue.

Overview

  • First Deputy Mayor Dean Fuleihan said charging for currently free curbside spaces and using dynamic pricing “needs to be discussed.”
  • New York City has more than 3 million street parking spots, about 25% of which—roughly 800,000—are already metered.
  • A Center for an Urban Future report estimates that broadening meters could generate up to $1.3 billion per year, short of the full gap.
  • Mayor Zohran Mamdani maintains his preferred fix is taxing wealthy residents, noting meter revenue alone would not close the deficit.
  • Outer-borough council members criticized paid parking as regressive, while related ideas under consideration include residential permits and DOT “Smart Curbs” pilots.