Majority of New Yorkers Back Millionaire's Tax, Poll Finds

Emerson College survey shows support for tax hike on high earners to close city budget gap.

Apr. 9, 2026 at 12:20pm

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A dynamic, abstract painting of the New York City skyline in shades of blue, grey, and gold, with the silhouettes of skyscrapers and bridges repeated in overlapping geometric waves, conveying the fast-paced energy and economic forces shaping the city.A new poll shows strong support among New Yorkers for raising taxes on the city's wealthiest residents to address budget challenges.NYC Today

A new Emerson College Polling survey has found that a majority of New York City residents, 65%, support a millionaire's tax that would increase the city income tax by 2% on individuals earning more than $1 million per year. The poll also shows 55% of residents believe raising taxes on the wealthy is the best way to address the city's budget shortfall.

Why it matters

The findings come as New York City grapples with fiscal challenges and debates how to generate new revenue. A millionaire's tax has been a contentious political issue, with proponents arguing it's a fair way to have the wealthy contribute more and critics warning it could drive high-earners and businesses out of the city.

The details

The Emerson College poll surveyed New York City residents and found 65% support the millionaire's tax proposal, while only 4% said a 5% property tax increase would be the best option to close the budget gap. The poll also showed residents are unsure whether a 1-2% corporate tax hike would lead to companies leaving, with 30% believing it would and 44% saying it would not.

  • The Emerson College Polling survey was conducted in April 2026.

The players

Zohran Mamdani

The current mayor of New York City, who took office in 2025. The poll found his approval rating stands at 43%, with 55% of 2025 election voters approving of his performance so far.

Emerson College Polling

A polling organization that conducted the survey on New Yorkers' views on tax policy and the city's direction.

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What’s next

The poll results are likely to fuel ongoing debates at City Hall over how to address New York's fiscal challenges, with the millionaire's tax emerging as a key point of contention.

The takeaway

The Emerson College survey suggests the millionaire's tax has broad support among New York City residents, who see it as a fair way to raise revenue and address the city's budget gap. However, the poll also highlights lingering uncertainty over the potential economic impacts of tax hikes on high-earners and corporations.