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Saving Money on Monthly Parking

If you are an NYC resident and travel to work by car, it can become incredibly expensive. Parking on the streets during rush hour is nearly impossible, so most New Yorkers rely on the services of a parking garage.

Paying every day to have your car stay in a lot can add up. Luckily, there are ways that residents can get discount parking through the Manhattan Resident Parking Tax Exemption.

Currently, the tax on rental parking spaces is 18.375%. With the tax exemption, applicants can see the taxes lowered by 8%.

There are certain requirements for the discount. Applicants must meet the following conditions to be eligible:

  • Vehicle must be individually owned by applicant
  • Registration must be to the applicant's primary residence in Manhattan
  • Vehicle must be parked in a long-term rented space for at least a month
  • Lastly, the vehicle must be driven for personal use only

Once you are a part of the program, renewal is necessary. Applicants will receive a renewal notice every other June. Be sure to send in the renewal application by August 31.

If you have any questions about this program or other ways to find discount parking in NYC, give us a call! Parking in a garage in the city can be difficult. We want to make it easier.