The cost of a taxi in NYC is going up

17% as of today as a matter of fact. This will be the first rise in taxi fare costs in eight years. What does this mean and how will it impact you? Here are some numbers:

The new medallion taxicab rates are as follows:

For trips in New York City:
- $2.50 initial charge (first 1/5 mile);
- $0.50 MTA tax;
- $0.50 per each additional 1/5 mile;
- $0.50 per 60 seconds in stopped or slow traffic;
- $1.00 surcharge from 4 p.m. to 8 p.m. on weekdays, excluding holidays;
- $0.50 night surcharge from 8 p.m. to 6 a.m. daily.

Trips to/from JFK International Airport and Manhattan:
- $52.00, plus any tolls and/or tip;
- the $0.50 night surcharge shall not be added to this flat rate;
- the $1.00 peak surcharge shall not be added to this flat rate;
- the $0.50 MTA tax SHALL be added to this flat rate.

Trips to Newark Airport:
- the amount shown on the taximeter plus a surcharge of $17.50; and
- all necessary tolls to and from the destination.

According to the story on Gothamist not every cab is charging the new rates, some may still be charging the old rate until September 30th. Be advised