MARTHA’S VINEYARD – The Steamship Authority is considering rate adjustments for next year in the face of projected budget shortfalls incurred after a year marked by the ongoing COVID-19 pandemic.
For the Martha’s Vineyard route, Authority officials proposed an increase of $1 for passenger fares, an increase of $4 to $6 for one-way and $15 on peak trips for standard vehicle fares and an increase of $2.50 and $3.50 for excursion rates.
On the Nantucket route, passenger fares would increase by $1 on traditional ferries and $3 on high speed ferry trips, vehicles would increase between $11 and $16 for one-way and $15 on peak trips.
Rates for excursions would go up between $6 and $8, while barge fees would increase by $2 per ton.
For both Nantucket and Martha’s Vineyard, yearly parking permits would be adjusted by $50.
The Authority anticipates that these proposed rate changes will generate an additional $8,700,000 of operating revenue in 2021.
Approximately $5,400,000 would be generated from the Martha’s Vineyard route and $3,500,000 from the Nantucket Route, said the Authority.
$3.5 million in revenue is expected to come from standard fare vehicles, $720,000 from excursion fare vehicles, $1,720,000 from vehicles longer than 20 feet, $2,440,000 in passenger fares, $100,000 from parking permits and $240,000 from other miscellaneous categories.
According to Steamship Authority officials, a vote to adopt the recommended rate adjustments will be requested at the Authority’s November meeting.
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