Media Release
WA Government urged to stop padding out state budget with Perth Parking
Levy's projected $312 million bank account
The Property Council is urging the WA Government to "get serious" about the significantly underutilised Perth Parking Levy, which is forecast to reach more than $300 million.
Fees paid by owners of non-residential parking bays fund the Perth Parking Levy, which was initially intended for transport-related projects and services within the city.
Around $30 million per year goes to support Perth CAT buses and other transport initiatives, while recent reforms have also enabled the Levy to fund activation and amenity initiatives.
However, there are currently no public plans for how the majority of the Perth Parking Levy Account will be spent, despite the Auditor General recommending in February 2023 that the WA Government do so.
The Account is projected to reach $312 million over the forward estimates.
In its latest report, Priority Perth, the Property Council WA has recommended the creation of an advisory group comprising state and local government and industry to develop a plan for how the funds should be spent.
Comments attributable to Property Council WA Executive Director Nicola Brischetto:
"Perth's CBD is undergoing an incredible transformation thanks to notable big-ticket items such as the Elizabeth Quay development, ECU City and Perth City Link."
"These projects are sure to breathe new life into our city, but to fully capitalise on these investments, more needs to be done at the street level.
"The WA Government's expansion of the Perth Parking Levy's expenditure scope could serve as a perfect opportunity to unleash our city's potential through activation and amenity improvements.
"We now need to get serious about utilising the Levy, which currently has $204 million in its account and is expected to reach $312 million over the forward estimates.
"The Perth Parking Levy should be used for improvements to the heart of our city, not to pad out the state budget.
"Those funding the Levy are in the dark about how, or if, the money will be spent. A clearly articulated plan for how the fund will be spent would be a real drawcard for attracting investment into the Perth CBD.
"Our members, who are some of the biggest contributors to the Perth Parking Levy, are losing faith in its management."
