Indiana Toll Road rates increase

| Monday, April 07, 2008

Truck tolls recently increased 21 percent on the Indiana Toll Road. It used to cost $22.50 for a Class 8 to run the 157-mile length. Tolls for big trucks increased to $27.25 on April 1.

State legislators built a schedule and a range of toll increases into the legislation that led to the 2006 lease of the toll road to private investors. After signing that legislation, Gov. Mitch Daniels leased the road to ITR Concession Co., which is owned by subsidiaries of two foreign companies, Cintra of Spain and Macquarie Bank of Australia. The lease is for 75 years.

State legislation that OK’d the lease included truck toll increases from $14.55 to $18 in 2006; to $22.50 in 2007; $27.25 in 2008; and $32 in 2009.

The minimum toll increase in any future year will be 2 percent of the toll rate at the time of annual review, but the increase would be greater if the gross domestic product or the Consumer Price Index were to grow by more than 2 percent. For example, if the GDP grew by 3 percent and the CPI grew 4 percent, the toll increase for that year would be 4 percent.

Truckers pay a single rate whether they use cash or an iZoom account.

Rates for two-axle vehicles increased from $4.65 to $8 for those paying cash but are frozen until 2016 for iZoom customers, Pierce said.

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