Meter shock: NYers could get hit with 23% taxi fare hike, base fare increase

[Kamaji]

Meter shock:  NYers could get hit with 23% taxi fare hike, base fare increase

By David Meyer
September 14, 2022

The cost of riding in a New York City taxi would jump 22.9% under a new city proposal for the first yellow cab meter rate hike in over a decade, city officials said.

Rates to ride in a yellow or green taxicab have been unchanged since September 2012, the year after Uber entered the New York City market and dramatically transformed the for-hire car industry, the Taxi and Limousine Commission said in proposals released last week.

City bean counters estimate the proposed rate hike will increase driver revenue 33% based on 2019 passenger levels, and increase medallion revenue by 29.5%, the TLC said.

“It’s long overdue,” said former TLC Chair Matt Daus, who served under Mayors Rudy Giuliani and Mike Bloomberg. “It’s probably the longest time we’ve ever seen it than I can remember, but also we had a pandemic. Now that we’re coming out of it, I think it’s a good idea.”

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Source:  https://nypost.com/2022/09/14/nyc-taxi-fares-could-get-jump-23-under-new-proposal/