IPA: //ˈtæksɪˌmiːtə//
KK: /ˈtæksɪˌmiːtər/
A device in a taxi that measures how far the vehicle has traveled and calculates the fare that the passenger needs to pay.
The driver turned on the taximeter as soon as we got into the cab.
Taximeter → It is formed from "taxi" (from French *taximètre*, meaning a device for measuring fare) and "-meter" (from Greek *metron*, meaning measure). The word "taximeter" refers to a device that measures the fare for a taxi ride based on distance traveled or time taken.
Think of a device that 'measures' ('-meter') the 'fare' for a taxi ('taxi') — that's what a taximeter does.