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Taxi medallion owners press board for buy‑back after ride‑hail competition slashed medallion value
3006246 · April 16, 2025
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Summary
Multiple taxi medallion owners and drivers urged the board to buy back medallions or otherwise provide financial relief, saying medallion valuations collapsed after entry of ride‑hail companies and that many drivers now cannot meet loan payments.
A series of public commenters pleaded with the Board of Supervisors to address an ongoing taxi medallion crisis: speakers said medallion values collapsed after app‑based ride‑hailing services grew, leaving medallion purchasers with heavy loan obligations and insufficient revenue. Several medallion…
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