NYC Mayor Zohran Mamdani speaks to guests during commemoration of MLK day at the National Action Network in New York City, U.S., January 19, 2026. REUTERS/Eduardo Munoz
(New York, New York) – Mayor Zohran Mamdani is facing criticism over a proposal that would sharply raise estate taxes in New York.
The plan has drawn attention because critics say it would take the state’s death tax from 16% to as high as 50%, making New York even more expensive for families, business owners and retirees.
Supporters argue the wealthy should pay more and that the money could help fund public programs. But opponents say the proposal would punish people who built businesses, saved money or own property in a city already known for high taxes.
The backlash is especially strong among critics who warn that New York is already losing residents to states with lower costs. They say raising taxes after death would only give more families another reason to leave.
The fight is becoming another example of the bigger debate around Mamdani’s agenda: whether taxing the rich will help New York — or drive more wealth out of the city.
