2020 Illinois State Tax On Parking

January 16, 2020

As many are aware, the new year has come with some tax increases for Illinois. If you park everyday for work, you have probably noticed a parking rate increase. To learn more about how you can save extra money on parking this year and avoid the high rates, continue reading below!

2020 Parking Tax Details

This parking rate increase is due to the new daily and monthly tax applied to garages and lots who are not operated by the state or local governments. Specifically, the parking tax includes a 6% tax on daily parking and a 9% tax on monthly parking according to the Chicago Tribune. The revenue from this tax increase is supposed to go to J.B. Pritzker’s 45 billion dollar program, “Rebuild Illinois”. This tax hike will cause the average rate for one hour of parking in the Chicago Loop to increase at least 50 cents.

How To Pay Less With The Parking Rate Increase

Those who commute and park daily for work are looking at a substantial annual increase. To avoid this, consider turning to ParkChirp to find the cheapest parking rates offered in Chicago. If someone you know commutes and parks daily, let them know about the yearly savings ParkChirp offers!

You can combat the parking tax increase by using ParkChirp to reserve your daily or monthly parking. ParkChirp does not charge garage or lot owners commissions, and they are in turn able to offer an extremely lower rate than any other online parking site. Browse the low rates that ParkChirp offers using the link below. Don’t forget to download the ParkChirp mobile app on Android or iOS to make reserving your spot on the go easier! Questions? Contact our support anytime at parkchirp@parkingadv.com.