In just less than 60 days, Chicago's parking meter rates will increase again.

When the Chicago City Council ok'd the parking meter lease deal with Morgan Stanley (now called Chicago Parking Meters, LLC) last December, they passed an ordinance that allowed for some shocking initial rate increases for 2009, and for subsequent annual rate increases through 2013.

In 2009, meter rates jumped dramatically, increasing four-fold in most cases. Meters that were 25 cents an hour went up 400% to $1 per hour, meters that were 50 cents an hour quadrupled to $2.00 per hour and downtown meters went up just 50 cents from $3.00 per hour to $3.50 per hour.

Planned rate increases for 2010 are as follows:

2009 Rates         2010 Rates          % Increase

$1.00/hour            $1.25/hour                  25%

$2.00/hour            $2.50/hour                  25%

$3.50/hour            $4.25/hour                  21%

Rate increases will take effect beginning January 1, 2010.

Check out our Count Down Clock To New Meter Rates for up to the second info on when rate increases go into effect.