ABSTRACT
A parking space is the smallest parcel of land commonly rented, but between 5 and 8 percent of urban land is devoted to curb parking, so charging the market price for it can yield substantial revenue. All things considered, land rent from market-priced curb parking is an ideal source of local public revenue. The shortage of free curb parking fuels the political pressure for off-street parking requirements, which saddle all forms of development with increased costs and therefore increase the prices for everything except parking. The in-lieu parking fees in Montgomery County, Maryland, however, are property taxes. The revenue potential of land devoted to curb parking should be at least double that of an adjacent off-street lot. Market prices for crowded curb parking resemble congestion tolls for crowded freeways because both are needed when demand would otherwise exceed the available capacity.
