Emeritus faculty are eligible for a no-charge annual permit which provides parking privileges in all faculty/staff lots and garages on the Evanston Campus. Vehicle storage for longer than 24 hours is not permitted.
While parking access is issued at no cost to emeriti faculty members, the University is obligated to report the fair market value (FMV) of said parking benefit. Please note that parking rates are subject to change and fair market value is based on a calendar year.
Below is a summary of the imputed taxable income for parking access to the Evanston campus for the 2020-21 academic year. If you have any questions about what this means for your own tax situation, you are strongly encouraged to consult with your own tax advisor.
|Parking Description||How to Apply||FMV of Parking for AY 2020-21||Tax Basis for Parking Benefit|
|Free annual parking permits provide parking privileges in all faculty/staff lots and garages on the Evanston Campus. Evanston Parking Map.||Visit the Evanston Parking Office in person at the Segal Visitors Center at 1841 Sheridan Road
|The fair market value of this permit is $900.||Individual tax liability will be based on the total accrued value for each month that the individual has access to parking during a calendar year. Note that the parking cycle runs from October 1, 2020 – September 30, 2021.|
Emeriti must renew the permit each year during September to keep parking privileges active. You will receive a permit decal and your Wildcard will be programmed for access to the North and South Parking Garages.
If you are an Emeritus and have questions or need assistance, please contact Evanston Parking Services at 847-491-3319, email@example.com, or by visit the Parking Office.