![]() ![]() ![]() Ocean City, like most state and local governments across the country, is under pressure to cut its budget and/or raise taxes because of the recession.īecause cab operators have not had time to plan or obtain financing for the medallions, the Town Council proposes to allow them to pay in five monthly installments of $300, to be paid in full by July 15. If all 160 medallions are sold, the town would receive $240,000 in badly needed new revenue this year. Operators of those cabs will be guaranteed the first opportunity to buy medallions. Ocean City Police inspected 160 cabs in 2009. One medallion would be needed for every cab. Taxicab operators will be required to buy “medallions” from the town this spring at $1,500 each, and then pay a $500 fee each year to retain the medallion. In the middle of the worst economic downturn since the Depression, the Ocean City Town Council plans a new franchise fee for the local taxicab industry.
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