The council first passed the bill last month by a vote of 47 to 2. Bloomberg vetoed it, but the council had more than the 34 votes needed to override the veto Monday.
The legislation gives drivers an extra five minutes past the expired time on some meters and parking signs.
The fine for those violations is generally $65.
Bloomberg says the law will lead to chaos. He asks how drivers and ticketers will know what time to go by.
Supporters of the law say ticket-writers are too aggressive in giving violations one or two minutes after the expired time.