POLL: Do you support increased parking rates for downtown Myrtle Beach?

Daily and hourly parking rates in Myrtle Beach are set to rise for the first time since 2015 with the onset of next year’s budget, a move aimed at bringing fares into competition with surrounding communities.

Hourly fares will climb from $1.50 to $2, with all-day rates moving from $8 to $10. The city’s paid parking season runs from March 1 through Oct. 31, and the adjustments would take effect July 1 with the implementation of a $296 million budget for 2023. The current fiscal year ends June 30.

“It is time for an adjustment, and this is a moderate increase which reflects the value of parking in such a busy tourism environment,” city spokesman Mark Kruea told The Sun News May 27.

A market comparison presented to city officials in February showed the need for updated rates.

For example, North Myrtle Beach and Surfside Beach each have $2 hourly parking while Carolina Beach in North Carolina charges $5 an hour between March 1 and Oct. 31.

Weekly rates for on-street passes, which have been $30 since Myrtle Beach began its paid parking program, are set to hit $50 this summer.

In 2021, the city sold 759 weekly passes — a $22,770 revenue stream. If the same number were sold in 2023 under the new rate, it would generate $37,950 in profits

“We want people to come visit and enjoy the beach, the events and the commercial offerings. Providing parking comes with a cost, and this helps cover that,” Kruea said.

Parking changes aren’t the only new fees coming.

Michelle Shumpert, the city’s chief financial officer, said water and sewer rate increases of between 4 and 5 percent are included in the 2023 budget, increasing residential bills by about $2.58 a month.

“Over the past couple of years we’ve really talked about sustainability and fiscal health for the city and these items really demonstrate that is the direction we’re moving in,” she said. “It’s really good for us to say that after the pandemic we’ve gone through, we remain strong.”