No person may operate a taxicab within the town limits unless the taximeter is used in determining the fare to be charged for distance traveled or waiting time, and no other or different fare shall be charged to a passenger than is recorded on the reading face of the taximeter for a trip or waiting time, except as permitted under this chapter for transporting items of property of a passenger. No other rates or methods of measuring distance or waiting time charges shall be allowed for any trip or portion thereof within the town limits. Fares for trips or portions thereof outside the town limits may be set by agreement of the parties so long as the fare is agreed upon prior to commencement of the trip.