New NYC Taxes on Cabs and Uber Rides Are On The Way

It’s said that the only sure things in life are death and taxes. In New York, the latter might be more true soon. New NYC taxes are on the way, raising the already high cost of living in America’s most expensive city. 

A proposed surcharge on taxis and Uber rides has passed through the New York State legislature. Under the new plan, a surcharge of $2.50 will be levied on cab rides south of 96th street in Manhattan.

Ride-sharing services like Uber or Lfyt will be assessed a $2.75 charge for operating in the same area. The move aims to funnel more than $415 million into the MTA’s “lock box” annually.

The funds will be used to fund the Subway Action Plan which is aimed at repairing and revitalizing the city’s subway system.

Owning a car in NYC is expensive and many residents rely on yellow cab and ride-sharing services to get around. Of course, many residents also rely on the subway system and improved service would certainly be welcome.

A Tale of Taxes

New NYC taxes are on the way and whether they help or hurt will be determined in time. However, in the short-term, it’s another boost to the cost of living in what is already a very expensive place to live.

City vs City is a powerful cost of living calculator that makes it easy to see just how expensive NYC is to live in. Input your information and City vs City does the rest; calculating housing costs, major state and local taxes, and more.

You can then compare your costs against another city of your choosing. As a result, you’ll see a side by side comparison of costs and see which city comes out ahead.

City vs City examines costs at the zip-code level to determine an accurate look at your true cost of living. If you’re thinking of getting out of the high cost Manhattan life, download the City vs City app and find out which city can offer you a better deal.

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