Title
Briefing on Commercial Parking Tax Options and Impacts
Recommended Action
Committee Recommendation:
Not referred to a committee
City Manager Recommendation:
Receive a briefing on the options and impacts of commercial parking taxes. Briefing only. No action requested.
Report
Issue:
Whether to receive a briefing on and discuss Commercial Parking Taxes.
Staff Contact:
Max DeJarnatt, Parking Program Analyst, Community Planning & Development, 360.570.3723
Presenter(s):
Max DeJarnatt, Parking Program Analyst
Background and Analysis:
The Commercial Parking Tax (CPT) allows cities to impose a tax for the act of parking a vehicle in a parking facility operated by a commercial parking business which charges fees for non-reserved parking stalls. The goals of the CPT are (1) to discourage drive-alone commuting and (2) to generate revenue for transportation purposes. Staff will present scenarios estimating potential annual revenue generated by a CPT in Olympia using other Washington cities’ tax structures, constraints on how revenue may be allocated, and potential impacts.
Neighborhood/Community Interests:
Department of Enterprise Services noted that this tax will impact union contract negotiations.
Options:
Information only.
Financial Impact:
Using existing CPT tax structures of ten Washington Cities, staff estimates potential revenue for the City of Olympia spanning between $186,615 and $1,049,915 annually. See attached table for comparison of Washington Cities CPT rates.
Attachments:
Comparative Commercial Parking Tax Table
Link to RCW