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March 09, 2015

Philly Parking Authority cuts prices on taxi tags

Hopes to lure taxi industry with low-cost medallions for taxis for the disabled.

Government Taxis
01302015_taxis_philadelphia_AP.jpg Mark Stehle, File/AP

Taxi drivers in Philadelphia chat while waiting for another fare.

A medallion - the required license to operate a taxi in Philadelphia - generally sell for about a half-million dollars but a recent auction for rights to operate new taxis designed for the disabled generated little interest.

Instead of selling for the originally asked for $475,000, there were no buyers, so the price has dropped to around $50,000 under a new auction process, according to CBS Philadelphia.

A city official told the television station that there were concerns about how much it might cost to make the cabs handicapped accessible especially at a time when the industry faces new 
competition from ride-sharing services like Uber, although those are technically illegal in the city.