New Fares Starting Oct. 5
On Oct. 5, 2014, HRT will impose new fares for its bus, rail and ferry services. This is the first time HRT’s has increased its base cash since 1999. The new fare schedule reduces complexity, streamlines the fare pass options, and helps the agency maintain a balanced budget.
|The existing bus system of 73 local and express routes, plus light rail and the ferry service, costs about $60 million a year to deliver. When fares were set at $1.50 per trip, the recovery rate was just over $13 million, or 20 percent of HRT’s total operating costs. HRT’s target is to increase that share to 23 percent.|
|Raising the fares by .25 cents in 2014 will raise annual revenues for HRT by $1.6 million. This increase will help HRT to reinvest in its rolling stock and passenger amenities.|
|In 2016, fares will rise again to $2 for the base cash fare. The total 50 cent increase over two fiscal years will bring in an additional $3.12 million in operating revenue annually.|
|HRT held eight public hearings from January through February providing the public an opportunity to comment on the proposed changes.|
Use the Fare Policy Change Comment Form if you would like to comment on the new fares.