The Washington State Transportation Commission voted nearly unanimously Wednesday to freeze tolls on the Tacoma Narrows Bridge at their current rate — at least for the time being.
“Their intention is to keep the rates steady as long as they can,” said Reema Griffith, executive director of the Washington State Transportation Commission, adding that the lone vote against not raising the toll rates beginning July 1 was Commissioner Bob Distler.
“His feeling was that it would be better to have small, incremental increases in the rates,” Griffith said, explaining that no increase in tolls this year would mean a substantially larger increase next year.
“It’s a function of ‘pay me now or pay me later,’” she said. “There will be an inevitable increase, and the consequence of a break on the toll rates now is that there will be a more drastic rate increase next year.”
Griffith said the increase will be necessary due to a balloon payment in the bridge debt schedule next year, and current revenue forecasts show that the current rate will not be enough to cover the payment.
However, both the TNB Citizen Advisory Committee and the commission felt that given the “current economic situation, they should be sensitive” to people’s concerns about toll hikes.
For now, Griffith said tolls will stay at their current rates — $2.75 for transponder users and $4 for cash, but the commission will carefully monitor revenue forecasts and monthly traffic numbers.
“We will continue to watch the data, and if revenues take a dive, that will trigger a reaction,” she said, explaining that the commission can decide to raise rates later “at any time.
“But it won’t happen in darkness,” she said, adding that public meetings will be held and comments collected before the tolls are raised.
Earlier this year, Griffith said the commission had decided a toll increase was warranted due to a large dip — 7 percent — in the number of vehicles crossing the bridge
“In February, our number of vehicle crossings dropped by 78,000,” Griffith said last month. “It’s not overly surprising, as perhaps more people are unemployed or only working part-time.”
Based on those latest numbers, Griffith said the transportation commission decided an increase would ensure the toll revenue would be enough to cover the bridge debt payments,
which she said would “take a step up” next year.
Griffith said the commission looked at several “toll rate scenarios,” including raising the electronic toll collection(ETC) price to $3, $3.25 and $3.50, and the commission’s latest recommendation settled on $3.25 for the transponder price, leaving the cash price at $4.
Wednesday’s vote, however, will keep the tolls at their current rate.
