State Transportation Commission suspends plans to increase toll rates on SR 16 Tacoma Narrows Bridge
Transportation Commission Office - PO Box 47308 - Olympia, WA 98504-7308
Date: March 24, 2016
Contact: Reema Griffith, Transportation Commission Executive Director, 360-705-7070
OLYMPIA – There’s good news for drivers who use the State Route 16 Tacoma Narrows Bridge. The Washington State Transportation Commission recently voted to suspend a planned 50-cent toll rate increase on the Tacoma Narrows Bridge, scheduled to take effect July 1, 2016.
The largest annual cost for the Tacoma Narrows Bridge is the debt service payment. The law requires debt service payments, along with other costs like maintenance, operations and insurance, be paid with toll revenues. The 30-year debt service schedule has payments going up every one or two years. Historically, traffic volumes have not increased at the pace necessary to meet these growing debt obligations. As a result, since July 2012, bridge users have experienced annual toll increases.
But some toll relief has arrived this year. The Washington State Legislature provided $2.5 million in gas tax revenues to pay for the bridge’s debt service payments coming due between July 1, 2016, and June 30, 2017. This means the 50-cent toll increase planned for this July is no longer needed thanks to the state’s investment. Toll rates are now scheduled to remain at current levels through June 30, 2017.
WSTC’s Chairman Anne Haley was pleased with the Legislature’s decision to provide funding for the Tacoma Narrows Bridge debt service payments. “This investment made by the Legislature brings a much needed break to the annual toll rate increases on the bridge. The commission is committed to working with Legislative leaders, the TNB Citizen Advisory Committee, and the Washington State Department of Transportation to determine long-term options that may bring toll rate stability to the drivers of this bridge,” said Haley.
The commission will hold a final hearing to reflect in the administrative code the rate suspension decision. The hearing will start 1 p.m. May 17, at WSDOT’s headquarters building, 310 Maple Park Ave SE, in Olympia.
To learn more about the commission, visit: www.wstc.wa.gov/