Motorists will be stung an extra $3.4 million in parking fees by the City of Perth, the council's 2012-13 budget reveals.
According to budget papers tabled at a special council meeting last night, parking revenue will increase 5.4 per cent to $66.5 million next financial year - just over half the city's total revenue.
A 20¢ an hour increase in on-street parking fees throughout the city will bring in almost $600,000 in extra money.
Inner city on-street bays will cost $3.60 an hour from July 1, while West Perth and Northbridge bays will cost $3.30 an hour and East Perth bays $3.
But shoppers and short-term visitors to the city will benefit from a new weekend discount scheme, offering a 50 per cent saving for the first four hours at selected central business district carparks.
The budget also details an $85 million capital works program led by a $13 million investment in the Cathedral Square development - where a new library and plaza will be built by 2014. The landmark Goderich Street affordable housing project in East Perth, due to be ready next year, will receive $9.2 million and the Forrest Place mall development will get $11 million.
Lord Mayor Lisa Scaffidi said the city's strong focus on capital programs would benefit residents, workers and visitors to Perth.
Rates revenue in 2012-13 will rise 6 per cent to $66 million and despite the council's strategy to encourage more people to live in the city, the minimum rate for all properties will increase from $560 to $594 next year. "To achieve our budget objectives and to deliver the services and facilities required for our city, it has been necessary to increase property rates by an average of 6 per cent across all rating categories," Ms Scaffidi said.
"The council has had to take into account that its investment earnings are expected to decline by some $900,000 in 2012-13.
"This is due to falling market interest rates, new government restrictions on the type of security local governments can invest in and the utilisation of council's reserve funds to assist in capital expenditure."
Member fees, expenses and allowances will remain at $87,000 for the Lord Mayor, $35,000 for the deputy lord mayor and $20,000 for other councillors.
Overall, employee costs are forecast to rise $4.1 million.
Council revenue, with the addition of grants, in the next financial year will increase to $167 million.
The council has posted an operating surplus of $20.1 million, down from $21 million the previous year.