Faculty and Staff Virtual Parking Permits increased from .9% of your annual base salary to .92% in FY23, and will increase each fiscal year through FY28, ending at 1.02% of a person’s annual base salary.
Here are examples of how salary levels will be affected by the new rate structure:
$30,000/ $60,000/ $82,778+ salary bands
|
Fiscal Year |
% of ABS |
Monthly Rate |
Annual Rate |
|
FY22 |
.9% |
$22.50/$45/$62 |
$270/$540/$745 |
|
|
|
|
|
|
Approved Rates |
|
|
|
|
FY23 |
.92% |
$23/$46/$63.50 |
$276/$552/$762 |
|
FY24 |
.94% |
$23.50/$47/$65 |
$282/$564/$778 |
|
FY25 |
.96% |
$24/$48/$66.25 |
$288/$576/$795 |
|
FY26 |
.98% |
$24.50/$49/$68 |
$294/$588/$811 |
|
FY27 |
1% |
$25/$50/$69 |
$300/$600/$828 |
|
FY28 |
1.02% |
$25.50/$51/$70.33 |
$306/$612/$844 |
The salary-based permit rate is capped at $778 for FY24 and increasing to $844 for FY28. Individuals earning $82,777.77 a year and above will pay this capped rate.
For employees in union-represented bargaining units, the rate increases will be discussed through the required collective bargaining process.