State Transportation Commission sets new TNB toll rates
Transportation Commission Office - PO Box 47308 - Olympia, WA 98504-7308
(360) 705-7070
Date: May 22, 2012
Contact: Reema Griffith, Transportation Commission Executive Director, 360-705-7070
OLYMPIA – The Washington State Transportation Commission has taken final action to adopt new toll rates for the Tacoma Narrows Bridge.
The following toll rates will take effect July 1:
- $4 for Good to Go!
- $5 cash
- $6 pay by mail
The State Transportation Commission is legally required to set toll rates for the Tacoma Narrows Bridge in an amount that is sufficient to pay the debt for the bridge, as well as to pay costs related to maintenance, preservation and operations of the bridge.
Because the Tacoma Narrows Bridge was financed with an escalating debt structure to minimize the initial impact on bridge users, debt payments rise over time and require additional toll revenue. In the 2007-2009 biennium the state paid $41 million in debt payments, but in the current 2011-2013 biennium debt payments for the bridge reach nearly $90 million.
The commission evaluates several factors during the toll-setting process, including bridge expenses that are paid for by toll revenue, trends in traffic volumes, the schedule for bond payments, ending balances in the toll revenue account, the rate recommendations from the Citizen Advisory Committee and public input.
The action by the commission last night in Gig Harbor follows two public input meetings the Commission held on its proposal during April in Port Orchard and Gig Harbor.
For more information about the Washington State Transportation Commission, visit their website at: http://www.wstc.wa.gov/