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When the New York City Transit Authority was created in July 1953, the fare was raised to 15 cents (equivalent to $1.71 in 2023) and a token was issued. In 1970 the fare was raised to 30 cents. This token is 23mm in diameter with a Y cut out, and is known as the "Large Y Cutout".
A major goal of the formation of the NYCTA was to remove transit policy, and especially the setting of the transit fare, from City politics. The fare was increased to fifteen cents on July 25, 1953, and a token was introduced for paying subway and elevated fares. Bus and trolley fares continued to be paid by cash only.
As of August 2023, the base fare is $2.90. Fares can be paid with most credit or debit cards using the OMNY readers, with a reusable MetroCard, or with single-use tickets. The MTA offers 7-day and 30-day unlimited ride programs that can lower the effective per-ride fare significantly.
The Metropolitan Transportation Authority announced Wednesday it will test new fares for New York City Transit to increase ridership and reduce costs and uncertainty for public transportation ...
The MTA may be on better financial footing through 2024 thanks for an influx of federal funding, but transit officials won't commit to holding off on fare increases beyond 2021. (Yassie Liow/Patch)
New York City Subway fares have been increased four times since 2008, with the most recent occurring August 20, 2023, raising single-ride fares from $2.75 to $2.90, express service from $6.75 to $7.00 and the monthly MetroCard fare from $116 to $132.