Last April, just weeks after the council brought in a number of increases, many business owners and residents signed a petition in opposition to the policy.
The on-street parking spaces were described as “premium” by the authority, the reason given for the previous rise.
A notice to change the fees is expected to be advertised later this month, which will confirm the exact start date for the changes, a council spokesperson said.
Keith Butterick, Mayor of Hebden Royd Town Council, said the organisation had campaigned to get parking costs reduced and he was delighted it had “secured a positive outcome. “
He added: “This demonstrates that a constructive partnership between town and district councillors can produce beneficial results for the community.”
Calderdale Council said the reduction had been brought in in recognition of people parking on the streets for short visits to the town, according to the Local Democracy Reporting Service.