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As a result, their value rose tremendously. Every cab in New York City has to have a medallion. And the city strictly limits the number â currently just over 13,000. So as New York has prospered over the past few decades, the price of medallions has gone through the roof.The maximum amount a cab leased out to drivers can earn over a year is $82,524.acob Goldstein has a similar theory. Every cab in New York City has to have a medallion. And the city strictly limits the number â currently just over 13,000. So as New York has prospered over the past few decades, the price of medallions has gone through the roof.
Cabs in Chicago and Sacramento have the highest initial charge â $4 â followed by Cincinnati taxis, which charge $3.75. The most expensive charge per-mile is Honolulu's $3.20. Cabs in five cities â San Jose, Sacramento, Buffalo, San Diego and Rochester, N.Y. â charge $3 a mile.Taxi rates have been steadily increasing and can certainly hit the wallets of avid business travelers, says Ippei Takahashi, the founder of TaxiFareFinder.ares, though, vary from city to city and, in some locales, can be a bargain. At USA TODAY's request, TaxiFareFinder.com calculated estimated one-mile, five-mile and 10-mile fares in the 60 largest U.S. metropolitan areas.