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A taximeter or fare meter is a mechanical or electronic device installed in taxicabs and auto rickshaws that calculates passenger fares based on a combination of distance travelled and waiting time. Its shortened form, "taxi", is also a metonym for the hired cars that use them.
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%.
Drivers are guaranteed to receive 70% or more of the fare after external fees. If weekly earnings fall below this threshold in relation to passenger payments, Lyft compensates the difference.
The total value of all medallions and assets related to them had a value of $2.5 billion in Chicago in 2013. [9] In 2012, medallion prices ranged from $87,000 to $385,000. [10]
David Crisci, a Park Ridge resident who commutes to New York City, noted NJ Transit riders would see a bigger annual rate hike by percentage than the 600 or so companies in New Jersey, like Amazon ...
NJ Transit is proposing to increase fares 15% — its first hike in nine years — and would install 3% annual fare increases indefinitely after that, according to a plan presented by NJ Transit ...