No, You’re Not Imagining It: That Taxi Ride Costs More

New York City TaxicabIf your taxi ride seems pricier than it did last week, you’re not hallucinating: A fare increase went into effect in New York City yesterday (Sunday, Nov.1). Merely getting into a cab will now cost you 50 cents more than it did on Saturday: The fare has been raised from $2.50 to $3.00.
But the extra money isn’t going into the drivers’ pockets: the surcharge was ordered by state officials to help the MTA with a massive (1.8 billion dollar) shortfall.
Although it may seem like fares get higher and higher every day in New York, this is actually the first fare increase since the $2 fare was raised in 2004.
Each additional fifth of a mile will stay at 40 cents.
The city has 13,237 licensed yellow cabs; the surcharge on fares will bring in about $85 million.
Other parts of the plan include a payroll tax of 34 cents per $100 on employers in 12 counties served by the authority. An increase on bus and subway fares went into effect last June.
No one said New York was cheap, but this kind of increase will most definitely be felt by riders. It’s being done without a huge amount of fanfare, either, so many who glance at the fare maybe surprised.
While you’re saving your quarters, may we suggest walking?

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Michael Tubbs

Michael Tubbs

Finance and Stats at New York Show Tickets Inc.
Michael's passion for Broadway and statistics came together perfectly for his assignment as "Broadway Sales Analyst" at New York Show Tickets Inc. He loves to forecast future Broadway ticket sales, diagnose breaking trends and can spot Broadway show winners and losers long before the rest of the crowd. Favorite Celebrity: Ashton Kutcher
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Michael Tubbs

About Michael Tubbs

Michael's passion for Broadway and statistics came together perfectly for his assignment as "Broadway Sales Analyst" at New York Show Tickets Inc. He loves to forecast future Broadway ticket sales, diagnose breaking trends and can spot Broadway show winners and losers long before the rest of the crowd. Favorite Celebrity: Ashton Kutcher