The last fare increase for NYC taxis was in 2006. The Taxi & Limousine Commission is now asking for a 20% increase in fares. We don’t know the increase includes the flagfall rate, the per mile fare, or both. Right now, the NYC taxi fares are:
- $2.50 flagfall rate upon entry
- $0.40 per additional unit of 1/5 mile, when the taxicab is traveling at 6 miles an hour or more, or 60 seconds when not in motion or traveling at less than 6 miles per hour.
- Night surcharge of $.50 8pm – 6am
- Peak hour Weekday Surcharge of $1.00 Monday – Friday after 4pm – 8pm
- New York State Tax Surcharge of $.50 per ride
According to Crains, the New York Taxi Workers Alliance wants this increase based on its claim that drivers are taking home 25% less since 2006, citing a 45% increase in gas prices since 2006.
Every taxi has a Medallion, or a license, to operate and pick up street hails. That Medallion is very valuable, costing about $1 million for a fleet operator and $600,000+ for an individual. The Medallion owner then leases out the taxi to a driver for a flat rate of approximately $105 for a day shift and $135 for a night shift (according to our cab driver last night). After the driver pays for the rental and gas, the rest of the money is his, or hers.
Would you still take NYC taxis if the fare went up 20%?