(The Center Square) — New Yorkers overwhelmingly back taxing the city’s wealthiest residents if it means averting a potential property tax increase, according to a new poll.
The Siena Research Institute survey, released Tuesday, found that voters by a 54%-29% margin support giving New York City the authority to raise personal income taxes on City residents earning at least $1 million.
The poll comes as New York City Mayor Zohran Mamdani seeks approval from state lawmakers and Gov. Kathy Hochul to raise taxes by 2% on households with income above $1 million and increase the combined corporate tax rate to just over 22%, the highest in the nation. Mamdani says higher taxes are needed to whittle down a $5.4 billion budget deficit he inherited from the previous administration.
Siena pollster Steven Greenberg said while neither Hochul and or legislative leaders have said publicly if they support Mamdani’s tax plans, which require state approval, the data shows that “the public is on Mamdani’s side.”
“While Republicans disagree, voters overall prefer New York City raise income taxes on its millionaires, rather than raise property taxes on all New York City property owners, Mamdani’s stated position,” he said.
The democratic socialist, who filed his preliminary $127 billion budget earlier this month, has threatened to increase property taxes across the board in New York City unless Albany lawmakers approve his wealth and business tax plans. He has won support for his plan from progressive Democrats on the New York City Council, who’ve urged state lawmakers to approve the plans.
Hochul, who is running for reelection this year, filed her preliminary $263 billion state budget earlier this year, but didn’t call for any tax increases. A group of democratic lawmakers are expected to file legislation in Albany this week that would authorize New York City to increase taxes, but it’s not clear whether it will win support from legislative leaders.
Mamdani’s taxing plans have fueled concerns about an exodus of major employers from the nation’s largest city, with low-tax states like New Hampshire and Florida urging New York City businesses to relocate.
But the Siena poll of 805 New York voters, conducted between Feb. 23-26, found that Mamdani’s wealth tax plans are overwhelmingly supported by New York City voters, 62-21%, with the strongest support among Democrats, 72-13%.
Mamdani’s plans have “more tepid support” from New York City’s downstate suburbs, or 50-32%, and upstate, 48-35%, according to pollsters. Republicans oppose the tax plans 51-36%, pollsters found.
