New York City officials are weighing whether to expand metered parking across the five boroughs as Mayor Zohran Mamdani’s administration searches for ways to address a growing $5.4 billion budget shortfall.

First Deputy Mayor Dean Fuleihan said last week that converting some of the city’s currently free street parking to metered parking — or introducing “dynamic pricing” that fluctuates based on demand — should be part of the broader fiscal conversation.

“Yes, we should be looking at all those things,” Fuleihan said during remarks at a CityLaw breakfast event. Still, he cautioned that parking fees alone would not resolve the city’s financial gap.

“It’s not going to address the $5.4 billion problem,” he said.

New York City currently has more than 3 million street parking spaces, but only about 25% — roughly 800,000 — are metered. A study by the think tank Center for an Urban Future estimated that expanding the number of metered spots could generate as much as $1.3 billion annually.

The idea is already drawing criticism from lawmakers in the outer boroughs, who argue the proposal would disproportionately affect working- and middle-class residents who rely on cars.

“Like the mayor’s proposal to hike our property taxes, this is just another way to shakedown outer-borough households,” said Staten Island Councilmember David Carr.

Queens Councilmember Joann Ariola similarly warned that many neighborhoods lack sufficient transit options and depend heavily on personal vehicles.

The Mamdani administration has emphasized that its primary strategy for closing the deficit involves raising taxes on wealthy residents rather than relying on parking revenue.

“Our administration is committed to filling the budget gap by ending the drain on New York City and taxing the rich,” Mamdani said in a statement.

(YWN World Headquarters – NYC)