Toll increase likely for State Route 520 Bridge due to decline in revenue
Drivers could see a sharp toll rate increase for State Route 520 Bridge by this summer as the state works to mitigate reduced revenues that began with the coronavirus pandemic.
The Washington State Transportation Commission began discussing new toll rates, which could include a 120-day emergency rate, followed by a permanent rate. To meet upcoming financial and legal obligations, toll rates could increase an estimated 25-35%.
Between March 2020 and March 2021, gross toll revenue was $52.7 million below pre-pandemic forecasts due to a decline in vehicles on the road, according to information from the state. The largest traffic declines occurred during peak commute periods when tolls are higher, further impacting revenue loss.
An additional problem: forecasted traffic levels could be 36% lower than pre-pandemic levels for the fiscal year 2022, with subsequent years seeing increased traffic.
https://www.msn.com/en-us/travel/news/toll-increase-likely-for-state-route-520-bridge-due-to-decline-in-revenue/ar-BB1fTk80
