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

Emerson College survey shows support for raising taxes on high earners to close city's budget gap.

Apr. 9, 2026 at 12:53pm

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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 cranes repeated in overlapping, fractured geometric patterns, conveying a sense of the city's fiscal and political tensions.A new poll shows strong support among New Yorkers for raising taxes on the wealthy to address the city's budget challenges.NYC Today

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

Why it matters

As New York City faces ongoing fiscal challenges, the public's appetite for tax increases on high-income earners could shape the policy agenda of Mayor Zohran Mamdani and the city council. The survey results suggest broad support for a millionaire's tax, though there are also concerns about the potential impact on businesses.

The details

The Emerson College Polling survey found that 65% of New York City residents support a millionaire's tax, while only 4% favor a 5% property tax increase. The poll also showed that 55% of residents believe raising taxes on the wealthy would help close the city's budget gap, compared to 41% who say the city should focus more on spending management.

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

The players

Zohran Mamdani

The current mayor of New York City, who has a 43% approval rating according to the poll.

Emerson College Polling

The polling organization that conducted the survey on New Yorkers' views on taxes and the city's direction.

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The takeaway

The strong public support for a millionaire's tax in New York City suggests the policy could gain traction, though concerns remain about its potential impact on businesses. The survey results also highlight the challenges facing Mayor Mamdani, with a majority of residents believing the city is headed in the wrong direction despite his relatively high approval ratings.