No license as provided hereunder shall be issued or continued in operation unless the holder thereof has paid an annual fee of forty dollars ($40.00) for the right to engage in the taxicab business. The payment of said fee shall entitle the holder of the license to operate a maximum of five (5) vehicles within the corporate limits of the town at any one given time. An annual fee of five dollars ($5.00) shall be paid for each additional vehicle over five (5) which the holder of the license intends to or does operate within the corporate limits of the town at any one given time. Said fees shall be for the year beginning November 1 and ending October 31 and shall be in addition to any other fees or charges established by proper authority and applicable to said holder of the vehicle or vehicles under his operation and control. (1980 Code § 9-714)