At the time of registration of the taxicab and for the purpose of defraying the expenses of police supervision, inspection and issuance of certificate herein provided for, the owner of each taxicab shall pay a yearly license fee as set by the council for the first vehicle and a fee as set by the council for each additional vehicle. The payments shall be for the remainder of the fiscal year of payment of license fees as provided in this chapter and there shall be license fees for each year thereafter. (2000 Code § 16-209)