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The total value of all medallions and assets related to them had a value of $16.6 billion in New York City in 2013. [9] In 1962, the market value of a medallion was around $25,000. The price rose steadily. In 2005, an individual medallion was around $325,000 while a corporate medallion was approximately $375,000. [12]
The New York City Taxi and Limousine Commission has enforced strict requirements for the color of medallion taxicabs since the late 1960s. [102] According to the Rules of New York City, "The exterior of the vehicle must be painted taxi yellow (Dupont M6284 or its equivalent), except for trim. Samples of paint color and shade are to be submitted ...
The number of wheelchair-accessible taxis in New York City has tripled from 238 in 2013 to 850 taxicabs on the road in 2016. Almost 300 new wheelchair-accessible medallion taxicabs went into service in the first six months of 2016, according to TLC data.
New York City's taxi fleet doesn't provide a good living for a lucky few investors. It provides a great one. Taxi medallions have outperformed practically every investment imaginable -- including ...
More than $200 million in debt held by struggling yellow taxi medallion owners has been wiped off the books, Mayor Adams said Friday. Through a program negotiated last year by former Mayor Bill de ...
After years of protests, hunger strikes and pleas to the city government, 3,000 debt-ridden New York City taxi drivers will be getting a new start.
In some large American cities, and in Hong Kong, a medallion system is used to license cabs. The city issues a fixed number of medallions, and only medallion taxis are allowed to pick up fares. In general, this leads to medallions becoming ever more expensive—a New York City corporate medallion can sell for up to $1 million each. [16]
The taxicabs of the United States make up a mature system; most U.S. cities have a licensing scheme which restricts the number of taxicabs allowed. As of 2012 the total number of taxi cab drivers in the United States is 233,900; the average annual salary of a taxi cab driver is $22,820 and the expected percent job increase over the next 10 years is 16%.