nyc taxi medallion for sale 2021

Buyers Premium:A six percent (6%) Buyers Premium will be added to the Successful Bidders high bid to determine the contract price to be paid by the Successful Bidder. The NYTWA has put forward a proposal to New York City asking it to backstop loans that would be restructured to a maximum of $125,000 per medallion. The medallions drop in value is due in part to the overwhelming demand for ride-share services provided by the likes of Uber, Lyft and Via. If a bid is received with a commitment letter from a non-bank or credit union entity without evidence of licensure, the bid will be rejected at the opening as non-responsive. From 2018 to last year, Curb said it experienced a 300% increase in the number of people using the app to book taxi rides in the five boroughs. We want the city to realize that and give us back the dignity we deserve. They say, Mom, we never see you. For the cabbies celebrating, the mayors announcement, as well as the overwhelming public support they received, served as a vindication of their decades-long struggle for survival. Many of the protestors are members of the New York Taxi Workers Alliance, and wear shirts and carry signs with the union's logo. After peaking at more than $1 million, medallion values plunged because of competition from Uber and Lyft. Its hard to predict these days because theres a lot of elements, including Covid, but theres a lot of demand.. If you are assisting an eligible medallion owner, please ask them to use their TLC License Number, ZIP code, and the last five digits of their social security number or EIN, to sign up for a legal services appointment with the, If you need additional assistance, please email, If you were already assigned a legal services representative and need help contacting them, please email, If you are a TLC-Licensed Driver or own six or more medallions and need financial guidance, Schedule a financial counseling appointment with the. In that waiting game, City Hall has been thinking they are going to tire us and we were just going to walk away. Please. He says by having a new car and working extra hours he can make as much as he did pre-pandemic. Vehicle Transfer is the process to change the vehicle attached to the Medallion. They barely see their mom. Since 2011, yellow taxi revenues have dropped by more than 30%. He had the passion to do that.. Over the ensuing years, yellow cab drivers engaged in multiple direct actions across the City to bring awareness to their plight. Oct. 18, 2021. I wanted a nice car, like you would have an Uber car or Lyft car, so I started researching companies that leased cars brand new," Collazo said. Taxicab with all required equipment / decals; Government issued photo identification (or TLC / Hack license); Meter Certification: This is a Meter Mile Run (MMR) test, done once a year at a TLC Licensed Taximeter shop. Any questions about posting the Bill of Rights should be directed to the TLC Driver Protection Unit at (718) 391-5539 or email at driverprotection@tlc.nyc.gov. Many have found themselves in a situation similar to Tuncel: his income as a taxi driver is not enough to pay off his medallion debt, so his lender seized it. Sign up to receive our weekly emails of upcoming auctions & special events! Here is how New York City manufactured the taxi medallion crisis. Through the program, medallion owners could receive up to $20,000 in up-front loans to restructure . City of New York. I feel sorry for myself. The value of medallions soared due to the Citys artificial inflation of medallion values to drive up revenue. Staying current is easy with Crain's news delivered straight to your inbox, free of charge. What theyre saying is, we bought cheap and we hope it will rise and it will rise. What happens after I schedule a legal services appointment with the TLC Owner/Driver Resource Center? The Minimum Upset Price is the minimum amount that will be considered valid. They will also negotiate with your lender to reduce your loan amount and monthly payments, and help you prepare for the closing. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the Property, including without limitation, environmental and physical condition of the Property. How do I connect with my legal services representative? During these processes, the vehicle is updated in TLCs system and is registered with NYS DMV at the TLC. 2023 NY Slip Op 30526(U) TAXI MEDALLION LOAN TRUST III v. . For questions, or to start a transfer call the TLC Medallion Transfer Specialist Daniel Fortilus at (212) 676-1167. A twenty-five dollar ($25.00) late fee will be charged after a late renewal is completed. 2989), Mini-fleet priced to sell. The agency has yet to put forward a specific proposal, but the Taxi Workers Alliance is pushing for an increase of between $1.50 and $2 to ensure drivers can earn $25 per hour after expenses. A taxi medallion is the physical certificate required to operate a yellow cab. The sale, which was approved by the Taxi and Limo There are about 12,000 taxi medallions in use in New York, sold originally by the city but now traded mostly among taxi drivers and owners of taxi fleets. Click. Use of a broker to complete the transfer is optional. Most of the information provided has been obtained from third party sources and has not been independently verified. You can unsubscribe at anytime. After suffering a stroke, he borrowed $750,000 against the medallion's value in 2014, signing away his right to fight back in court if he couldn't keep up with the payments. Photograph: Ismail Ferdous/The Guardian, They stole from us: the New York taxi drivers mired in debt over medallions. Im in the last part of my life. I have questions about my finances. But, by the time he purchased his second medallion Uber and Lyft began to grow ever more popular. Afterwards, prices dropped and many of those who bought medallions at high prices, are now paying debts that average ranging between $500,000 and $600,000 dollars. In 2014, its value had risen to $1m, when those who wanted to finance a medallion were also at the mercy of predatory lenders. The current metered rate is $2.50 plus 50 cents for every one-fifth mile, along with surcharges depending on when and where a cab is traveling. 685 Third Avenue The chart above shows monthly NYC taxi medallion prices for: a) corporate and b) individual medallions, based on data from the NYC Taxi and Limousine Commission. According to a NY Times story, there were about 6,000 cabs on the road in June 2021, or less than one half of the total pool of 13,500 medallions, the city-issued permits required to operate a . A taxi in 2006, when medallions were a hot investment. They foreclosed on it, so Im not making those payments, Tuncel said. Download the form here. Yet, after 31 days of sustaining the encampment without any response from the mayor, the drivers felt forced to switch tactics. Medallion-owning taxi drivers, or owner-drivers, who spoke to the Guardian say its another injustice imposed upon them by the city. One of those purchased medallions is on the hood on Collazo's cab. All prospective bidders are urged to conduct their own due diligence prior to participating in the Public Auction. View Case; 2023 NY Slip Op 30526(U) TAXI MEDALLION LOAN TRUST III, as assignee of MEDALLION FUNDING, LLC, MEDALLION FINANCIAL CORP., and MEDALLION BANK, Plaintiffs, v. BROWN EYES CAB CORP.; GREEN EYES CAB CORP.; All Rights Reserved. Her husband died and left her a medallion. Don't miss the chance to get the biggest news first! In the first quarter of 2021, that growth happened faster than at Uber and Lyftlikely fueled by cheaper yellow-cab prices. Medallions are renewed every two (2) years. Click a topic, or press the enter key on a topic, to reveal its answer. MEDALLION LOAN ACQUISITION FUND. Today, Nitescu attends the protests alone. + C $17.69 shipping. This is what I believe., NYC Yellow Taxi Medallion Crisis, Explained. City Environmental Quality Review (CEQR) is New York Citys process of implementing the New York State Environmental Quality Review Act, by which agencies of the City of New York review proposed discretionary actions to identify and disclose the potential effects those actions may have on the environment. Get the best experience and stay connected to your community with our Spectrum News app. NYTWA co-founder and President Bhairavi Desa told Documented that the organization felt that it was left with no other choice and the hunger strike was the only weapon left in its arsenal. The city's taxi medallion system limited the number of medallions issued, which created an artificial market and then that market was exploited to raise revenue. 25%-50% down more down batter price u get good luck, Mini-fleet for sale. Get hyperlocal forecasts, radar and weather alerts. You will need your TLC License Number, ZIP code, and the last five digits of your social security number or EIN to schedule an appointment. Gyatso has been driving a cab for so long he can barely remember when he started. At one time, the profession was, for many immigrants, a solid pathway towards building the American dream. Only 1500$ for 36 month can get you a medallion, pbimedsales@pearlandny.com - 718-361-0033 (ext. They stole from us.. Submit completed PDF document to medallionauction@tlc.nyc.gov by the date listed on your directive. Post a Medallion for Sale or Lease NYCYellowCabTaxi.com is a private blog about New York City Yellow Cab Taxis and is not affiliated with the New York City Taxi and Limousine Commission Home Book a Ride Lost and Found Toll Free: +1-800-609-8731 Medallions for Sale or Lease Post a Medallion for Sale or Lease INFORMATION Home Reserve NYC Taxi Perhaps most significant is the possibility of a fare increase. For decades, taxi medallions were a sure bet. Access private documents and bid on auctions from anywhere. Serious buyers only, text or call for more info thanks. The City also manipulated public medallion price data. If the resolution data is not available by September 30, 2021, the resolution price will be set to the average unrestricted NYC medallion price for months January - July 2021. The tumultuous state of the medallion can be traced back to its artificial inflation. No. Bidding Process:If a bid is placed with less than one minute remaining, the bidding period will be extended so one minute remains for competing bids to be entered. Dorthy LeConte pays $2,000 a month on her medallion loan. New York City's yellow cabs may operate and function more like their ride-hailing app . The apps monthly e-hail rides, Tamam said, are up nearly 200% since the start of this year. With his business once flowing strong, by 2015 it had dried up to merely a trickle. Tuncel wants his medallion returned, his loan restructured, and to get back to driving the public. He said he expects medallion prices will continue to grow gradually. I think probably the single most important factor is the fare increase. David A. Constantino, Auctioneer Historically, buzz around a potential metered fare increase tends to raise medallion prices, and the TLC is considering its first increase in 10 years. 06/07/2019 Type: Independent Restriction: Alternative fuel 06/05/2019 . 005. Our Spectrum News app is the most convenient way to get the stories that matter to you. I dont want to destroy my credit line, Islam said. Once seen as a valuable asset that secured a comfortable retirement, the medallions worth has plummeted, leaving the thousands of drivers who purchased a medallion in hundreds of thousands of dollars in debt, and financially ruined. In a city built on the backs of immigrants like himself, Salazar questioned whether New York, a city that he loves and has given so much for, will ever give back. Ultimately, it could achieve as much as a half a billion dollars in debt relief, de Blasio said in a statement at the time shared with Documented. For more than a century, taxi drivers have transported busy New Yorkers to their jobs, to brunch, or home from a late night out. I spent hours working to bring food for my kids. Why help Uber and Lyft? From the beginning, Gyatso says he saw the writing on the wall and blamed the mayor for not responding to the plight of yellow cab drivers as well as opening the door for rideshare apps. His monthly payment was $3,250 but when his balloon expired, the bank raised the monthly payment to $3,800. I have loans with two banks. The City must guarantee all owner-drivers outstanding debt so that in the event of default, the City will cover any remaining balance on their loan, said TWA spokesman Matthew Thomas. Richard B. Maltz, Licensed Real Estate Broker [Credit: Delger Erdenesanaa] The results of these searches must be submitted to the TLC together with an affidavit regarding these searches, signed by both the buyer and seller. Be in an amount not less than 80 % of the bid amount. For the first time in. The TLCs new commissioner, David Do, an experienced regulator who hails from the Washington, D.C. Department of For-Hire Vehicles, said during his May confirmation hearingthat helping more drivers access debt relief is a top priority for his administration. She even said, Dorthy, if you lose your home, let it go. As of September, taxi medallions are a meager $80,000. The commitment letter must: Approximately one to two weeks before the auction, the TLC will issue a directive (via both certified mail and Industry Notice) to all TLC-licensed brokers requiring such brokers to advise the TLC, by no later than the first date set for bid collection of the names of each owner, principal, shareholder, member, partner and employee of such broker at any time during the five years prior to the date of the first publication in the City Record of Notice of the Auction. Citizenship and Immigration Services, Troubled ASA College Closed But Left Students Out In the Cold, This Mosque is A Refuge for Migrants and Asylum Seekers in the Bronx, CoreCivic Sues New Jersey Governor Over Law Banning ICE Contracts, Migrants are Wrestling With the Complex Shelter System in NYC, 39 Brooklyn Families Displaced by Apartment Fire Taking Legal Action, Once a Boon to Chinese Restaurants During Lockdown, App FreshGoGo Has Become a Dilemma for Many, Chinatown Feels Abandoned As Anti-Asian Hate Crimes Persist, Trabajar sin papeles como indocumentado en Estados Unidos, How to Get a Green Card as an Undocumented Immigrant in the United States, Victims of Excluded Workers Fund Fraud Owe Taxes for Money That Was Stolen From Them, Cash Relief for Undocumented New Yorkers Not Likely To Pass. New York State's attorney general has accused New York City of committing fraud by significantly inflating the value of yellow taxi medallions and demanded $810 million from the city to compensate the thousands of cabdrivers who are now saddled with debt. Most of the 65 medallions sold last month went for between $100,000 and $185,000. The final step is for your legal representative to submit your application and supporting documentation to the TLC so that you can receive your MRP grant. Please note that only TLC approved vehicles may be hacked-up as a taxicab. The taxi medallion crisis has left New York City taxi drivers stuck with underwater loans amid a year-long pandemic that has sent decimated demand for cab rides, which were already dwindling because of ride-hail apps. The TLC created the Taxi Improvement Fund (TIF) to support medallion owners and drivers who purchase and drive accessible yellow cabs. See Approved Vehicle List in Yellow Cab Hack-Up. That crash is a direct result of the city's policies. A hefty sum but worth it given the lucrative trade in shuttling New Yorkers around the city's five boroughs. Step 1: Sign up for a Legal Services Appointment with the TLC Owner/Driver Resource Center. He said the only thing preventing him from filing from bankruptcy is the amount of time it takes for someones credit to clear after declaring bankruptcy. Many cabbies who borrowed against their medallions when the values were high, have been unable to make their loan payments as ridership fell. The renewal year is the year the Medallion expires, and is printed on the Rate Card. Out of desperation, Nitescu and her husband began attending the NYTWA protests for loan reconstruction. This wasnt our fault. After two years of sustained protests, NYTWA felt pushed to take more radical measures. Traditionally, yellow taxi have served as the international icon of New York City and its drivers are often been viewed as the citys unofficial ambassadors. The sale was immensely successful and raised more than $120M, nearly double . If the price of medallions dropped significantly, it could force recent medallion buyers underwater, meaning the value of their outstanding loan is greater than the current selling price for a medallion, Roth wrote. If the vehicle you are transferring is within its scheduled inspection cycle (meaning it has at least one (1) inspection left in its cycle), you will only have to pay fifty dollars ($50.00) for the transfer. 2023 All Rights Reserved, NYC is a trademark and service mark of the City of New York, TLC Vehicle Certification form, available here, Taxi Medallion Agent Designation Removal Form. But the way New Yorkers and tourists travel around the city has changed, and the medallion has plummeted in value. We believe this fresh perspective will boost drivers economic futures and help ensure that the taxi industry remains central in the lives of New Yorkers for many years to come.. To prepare for the meeting with your legal representative, you can gather your loan documents, bank statements, tax returns for the past two years, and other debt documentation. Both programs provide financial assistance and free legal representation to help medallion owners negotiate with lenders to reduce loan balances and lower monthly payments. Marblegate specializes in buying distressed assets and the taxi industry certainly has been in distress. During the Bloomberg and de Blasio administrations, the city made more than $855 million from taxi medallions and collecting taxes on private medallion sales. For access to the rules governing medallion transfers refer to Chapter 58 (Medallion Taxicab Service) (PDF). And when it rises, we will have increased the value of investment to our shareholders," Lynn said. Public Hearing September 1, 2021. testing of motor vehicles with autonomous. Download it here. Now, many are struggling under the burden of life-altering debt after investing in a taxi medallion. 2023 All Rights Reserved, NYC is a trademark and service mark of the City of New York, NYC Mayor's Office of Environmental Coordination, Draft Impact Statement Public Hearing PowerPoint Presentation, March 25, 2014 Minifleet Accessible Medallion Results, February 26, 2014 Independent Accessible Medallion Results, November 14, 2013 Minifleet Accessible Medallion Results, May 2, 2008 Minifleet Accessible Medallion Results, May 2, 2008 Independent Accessible Medallion Results, May 2, 2008 Independent Alternative Fuel Medallion Results, November 2007 Independent Accessible Medallion Results, June 2006 Minifleet Alternative Fuel Medallion Results, June 2006 Independent Alternative Fuel Medallion Results, June 2006 Minifleet Accessible Medallion Results, October 2004 Independent & Minifleet Alternative Fuel Medallion Results, October 2004 Independent & Minifleet Accessible Medallion Results, October 2004 Independent Unrestricted Medallion Results, October 2004 Minifleet Unrestricted Medallion Results, April 2004 Independent Unrestricted Medallion Results, April 2004 Minifleet Unrestricted Medallion Results, Auction Application for Taxicab Owners License, 26 February 2014 - TLC Auctions 168 Wheelchair-Accessible Individual Taxicab Medallions. Attend the TLC DMV appointment at TLCs Long Island City DMV office with the above completed documents. The new plan from City Hall, called the Taxi Medallion Owner-Driver Relief Fund, will provide up to $29,000 in no-interest loans to each of the estimated 3,000 drivers who purchased their own . READ. What is medallion debt and why were taxi drivers on strike? We invested, served, and believed in New York City, he said. Medallion brokers often. These vehicles must pay fifty dollars ($50.00) for a transfer transaction, and ninety dollars ($90.00) for inspection. I have a medallion for sale for $260k 0 down payment 36 month agreement for down payment then loan will be transferred to buyers name with 2018 rav 4 30 thousand miles It is the responsibility of the Buyer to determine the accuracy of all components of the sale and Medallions. Medallions are renewed every two (2) years. The price of a taxi medallion crashed to its lowest level in about. Now, Marblegate hopes its bet pays off, too. For more information please visit the Mayors office of Environmental Coordination at NYC Mayor's Office of Environmental Coordination. NYC caps taxi medallion debts at $170K after driver hunger strike Metro NYC will cap taxi medallion debts at $170K after driver hunger strike By David Meyer November 3, 2021 7:44pm. If any further bidding occurs, the extension timer will reset to one minute. (212) 210-0100, LIRR concedes it miscalculated Grand Central Madison demand, begins adjusting service, City misses out onmillions infederal infrastructure pilot program, Stakeholders call forbig bond sale tofinance Penn Station redevelopment asHochuls plan stalls, Sponsored Content: Venues, Catering and Entertainment, Yellow cab drivers push for long overdue fare hike, How several small-time investors got hosed when Uber crashed the taxi market, Taxi medallion debt relief ispriority forAdams TLC nominee, Manhattan office leasing isnt getting strongerits getting worse, report finds, Ex-ABC News anchor Amy Robach and actor Andrew Shue offload West Village co-op, Flatiron Building is headed to auction following dispute between owners, Old-school dive Subway Inn reopens after eight months ofliquor license limbo. Title of vehicle (front and back), or certificate of origin for new vehicles if title is not yet received; Current For-Hire Insurance Certificate (FH-1); Certificate of Insurance or Insurance Declaration Page, demonstrating coverage in the amounts of $100,000 per person, $300,000 per occurrence CSL (combined single limit), and $200,000 PIP (personal injury protection). He guesses he has been behind the wheel of a cab for at least 22 years. It was a good investment at that time for our retirement.. All licensed agents, fleets, and meter shops must print, laminate or frame, and post the version(s) of the Bill of Rights most appropriate for their business (for example, agents must post both posters if they lease taxicabs on a daily or weekly basis and also lease medallions to DOVs). Dorthy LeConte has a medallion debt of $558,000 but said her broker raised it to over $600,000 after learning the city would restructure taxi payment plans. In 2014 the Taxi and Limousine Commission (TLC) passed rules to create the Taxicab Improvement Fund (TIF). For inspection, visit the TLC Woodside facility during the below hours: If any taxicab fails to pass inspection it will be re-inspected a 2nd time for an additional fee of thirty-five dollars ($35.00). Get premium, high resolution news photos at Getty Images Medallion for sale for 170,000, owned for 20 years, price below current value of 250k. New York's go-to source for immigration news, Taxis lined up outside Penn Station. Facing mounting debt, drivers like Chima Gyatso, a Tibetan immigrant from Sunnyside, Queens, were forced to choose between paying off their debt or supporting their families. Financing Available. Only serious buyer should email me to discuss price. Unrestricted medallions for sale except for one. Please note the time between meeting with the TLC MRP Intake specialist and connecting with your legal services representative can take 2-3 months due to the demand for the program. By 2014, the City was able to inflate the price of medallions to over $1 million and had made nearly $855 million off the backs of the mostly immigrant workforce. TLC MRP Intake Specialist will call you to get more information such as your loan amount and lender. City of Newark Taxi Medallion Secured Party Sales at Public Auction To Be Sold From The Doubletree Hotel at Newark Airport 128 Frontage Road, Newark, NJ. Look what this city did to you.. According to the citys Taxi and Limousine Commission, the average medallion value has climbed from $92,565 at the end of the second quarter last year to $140,663 through last monthrepresenting a roughly 52% increase. "I said, if I'm gonna do this, I'm gonna compete with Uber in my own way. A symbol of the city made globally famous in countless Hollywood films, the drivers of these yellow cabs are majority immigrants and people of color. I want to fix my life. Highly regulated, as of 2014, the City had limited the number of yellow cabs available to about 13,500. Im in a big mess, she said. Watch on. TLC BEV Taxi Pilot program. TLC will connect you with a legal representative to review your medallion loan and financial needs. A New York City taxi medallion sold for $241,000 last week less than one-fifth of what the cab-ownership tags were going for just four years ago. 652163/2021, Motion Seq. He is currently a Report for America corps member with Documented. Get exclusive access to auctions and get up-to-the-minute updates on upcoming opportunities. As of 2018, eight drivers have died by suicide. By law, there are 13,587 taxis in New York City and each taxi must have a medallion affixed to it. The conditions now do not warrant such large payments. Once the Yellow cab has been hacked up and passes inspection, the Medallion # will appear on the TLC website as active, the meter will be turned on, and the yellow cab will be authorized to operate. She was telling me how great it was having a medallion, LeConte said. But not anymore. Date Posted: 02/28/2023: Taxi Type: Ford Transit Connect Acce: Mileage: 0: . It would mean getting my life back, Tuncel said. Both programs provide financial assistance and free legal representation to help medallion owners negotiate with lenders to reduce loan balances and lower monthly payments. NEW YORK When Ranel Collazo wanted to drive a cab, after 17 years behind a desk at a livery car company, he picked Queens Medallion Leasing. His loan is about $800,000 and his monthly payments are $4,000. A symbol of the city made globally famous in countless Hollywood films, the drivers of these yellow cabs are majority immigrants and people of color. Laminated or framed to protect from damage. During the hack-up inspection, TLC will install the Medallion on the vehicle, and will ensure all equipment works correctly and meets TLC regulations. By 2017 the value had been quartered, and in November 2021 the cost of some medallions was as low as $25,000. Values began a precipitous decline in 2014. A taxi medallion is a permit that allows a taxi driver to operate a taxicab. Marblegates managing partner Andrew Milgram declined to speak to NY1. City of New York. The TLC will compile a list of all persons identified as a result of this directive. We have been pushed to that situation by people in power so we want them to correct the situation.. Updated insurance documents must be emailed to. The precise rules of that deal remain to be seen, however. Under state law, the TLC must verify that taxicab medallion buyers are current with their child support obligations. Once your appointment is scheduled, you will receive an appointment confirmation via email; you must bring the confirmation email to your appointment. Sometimes only one time.. This market will resolve when the data is posted by the NYC Taxi and Limousine Commission at the resolution source. With the rapid rise of medallion sales prices from 2003 to 2010, Roth worried that the value was in danger of outpacing the growth of the taxi industry. And dont worry, we hate spam too! In May 2021, medallions sold for an average of $79,105, with multiple individual sale prices sinking to an all-time low of $25,000 in August, according to TLC data. On a picture-perfect early November afternoon, dozens of yellow taxi drivers danced and feasted in a celebration outside City Hall. vehicle technology on any public highway. Many lenders are reducing loans and lowering monthly payments for medallion owners. I saw a woman driving a cab. Currently, the price of a taxi medallion ranges between $120,000 and $150,000. For over a month the drivers endured weeks of drastic fluctuations of heat, cold, and rain that have become a common part of the Citys chaotic autumn weather. Curb Chief Executive Amos Tamam said hes not surprised that medallion values are gradually inching upward, as the number of people hailing yellow cabs through his companys app has ballooned during the Covid-19 pandemic. On average, cab drivers owed $600,000 medallion debt; a nearly impossible sum to pay back as they worked in a dying industry. 8-27-21. Click below to see everything we have to offer. To stay afloat,Gysato had to cut corners to survive. Pay outstanding TLC tickets and Taxicab Improvement SurchargePayments (TIF) online using LARS. Once no further bidding activity occurs, the sale closes when the time runs out. Used car inspection papers (if completing a transfer from another Medallion). READ. Taxicab Medallion License: $500/2-year term Ground Transportation Tax: $98/month Taxi Accessible Fund Fee: $22/month Taxi Chauffeur License: $5/2-year term Important Schedules for Taxicab Owners and Managers 2023 Taxicab Medallion License Renewal Instructions and Checklist Taxicab Vehicle Inspection Schedule for Year 2023 In the same year, New York cab drivers along with hundreds of cab drivers for other states lead another caravan to our nations capital. Once an asset that secured a comfortable retirement, the medallions worth has plummeted, leaving drivers financially ruined. But rideshare vehicles had no such limits; the amount of them on the streets tripled between 2010 and 2019, from 40,000 vehicles to over 120,000. Step 2: Complete intake appointment with a TLC MRP Intake Specialist.