To confront slumping revenues and make up an estimated $30 million gap between projected and expected revenues for 2009, the North Texas Tollway Authority is discussing some major steps to increase revenue and cut costs.
First on that list is a proposed increase in tolls from 11 cents a mile to 14.5 cents a mile starting September 1 -- an increase of 32 percent. The NTTA would continue increasing the toll by 5.5 percent every other July if the proposal is accepted.
In addition, the NTTA is proposing postponing $82.5 million in improvement projects and delaying a $35 million study on the Trinity tollway in Dallas.
Revenue drops for the NTTA are likely due to Americans driving less. The Federal Highway Administration says the last 18 months have been the longest sustained reduction in miles driving in U.S. history -- a drop that certainly affects tollways as well.
But won't rate increases reduce the number of folks using NTTA tollways?
"If they raise rates, I will keep my Toll Tag, but I probably won't use it as often," Plano resident Bethany Anderson tells the Dallas Morning News. "I'm gonna need to see the NTTA's plan for a teleporter before I want to pay more in tolls."
The NTTA's Chief Financial Officer Janice Davis says they've studied the impact of the proposed rate increases on traffic declines, but tells the DMN, "we think the additional revenue brought in will be sufficient."
