SILVER SPRING, Md. (CBSDC) - Be prepared to reach a little deeper to park in parts of Montgomery County.

The Montgomery County Council approved parking rate increases for parking lots, garages and meters in both Silver Spring and North Bethesda as part of the 2013 fiscal year budget approved back in May.

Short term parking rates for the first four hours jump from $0.75 an hour to $1 an hour.

Long term parking rates for more than four hours increase 5-cents to $0.65 an hour.

The monthly parking convenience sticker increases to $123, up from $113.

These increases officially went into effect on Tuesday, Jan. 1.