The Dallas North Tollway. Photography by Danny Fulgencio.

Hang on to your wallets. Toll rates are increasing July 1.

The North Texas Tollway Authority announced Monday that the rate will increase one penny, from 19 cents per mile to 20 cents per mile for TollTag users. Customers who pay by mail pay at least 50 percent more than TollTag users.

It may be just a penny, but those pennies add up, especially for neighbors who use the tollway regularly. A 30-mile drive costs $5.70 with a TollTag, but the same drive will cost $6 beginning July 1.

The new rate will affect drivers using the Dallas North Tollway, which traverses Preston Hollow, as well as the President George Bush Turnpike, Sam Rayburn Tollway, Addison Airport Toll Tunnel, Lewisville Lake Toll Bridge, Mountain Creek Lake Bridge, Chisholm Trail Parkway and 360 Tollway.

The increase is in line with a biennial toll rate schedule approved by the North Texas Tollway Authority board of directors. The last rate hike was in 2019.

The price bump will be used to repay the $9.5 billion borrow to construct the toll roads, as well as $2 billion in improvements over the next five years.