With a reduction in the quarterly parking fee at Barrington’s train station, officials say more revenue will be generated for the village by falling below a threshold requiring payment of a Cook County tax.
A reduction in the quarterly parking fee at downtown Barrington’s train station means more revenue will be generated for the village because the amount will fall below a threshold requiring a Cook County tax payment, officials said.
Commuters will pay $5 less — $195 instead of $200 — for the quarterly hangtag starting Jan. 1, said Barrington’s director of financial services, Jason Hayden. While the $200 quarterly permit wound up producing $182 in revenue, the village will keep all $195 by not triggering the 9% tax.
Cook County’s 9% parking lot and garage operations tax is applied on spaces that cost $15 or more per week in towns with 250,000 or fewer residents. Barrington tripped the tax because the quarterly parking rate, which started Oct. 1, worked out to $15.38 for each of 13 weeks covered by the $200 permit.
Barrington also raised the daily parking tab to $3.50 from $3 for the north and south lots in October, but avoided the tax on the higher rate after village officials sought assistance to change the threshold. Cook County had a 6% tax on municipal parking spaces costing more than $3 for a 24-hour period in communities with fewer than 250,000 residents.
Read the complete Daily Herald story here.
Leave a Reply