Great Neck Estates Proposes Village-Wide Property Reassessment

Village aims to change tax code to base condominium assessments on property values rather than rental income.

Feb. 10, 2026 at 8:39am

Got story updates? Submit your updates here. ›

The Village of Great Neck Estates has proposed a village-wide property reassessment to be conducted by Municipal Valuation Services Inc. Long Island. The goal is to change the tax code to assess condominiums, apartments, and co-ops based on their property values rather than rental income, a process known as "homesteading." The last village-wide reassessment was 14 years ago, and officials say assessments can become eroded over time.

Why it matters

The proposed reassessment aims to ensure all property owners in Great Neck Estates pay taxes based on the true market value of their homes. This could lead to higher taxes for some condo and apartment owners, but village officials say the change will make the system more equitable.

The details

The reassessment would analyze the values of all 956 parcels in the village using a computer-assisted model. Residents would be asked to verify property details, and an informal assessment process would allow them to petition for lower values. Officials say the process will be transparent, but some residents have expressed concerns about accessibility and the availability of comparative market analysis data.

  • The Village of Great Neck Estates Board of Trustees discussed the proposal at their meeting on Monday, February 9, 2026.
  • The last village-wide reassessment was conducted 14 years ago.

The players

William Warner

Mayor of the Village of Great Neck Estates.

Tom Donato

Representative of Municipal Valuation Services Inc. Long Island, the firm that would conduct the reassessment.

Allen Lip

Resident of the Village of Great Neck Estates.

Eli Nafisi

Resident of the Village of Great Neck Estates.

Got photos? Submit your photos here. ›

What they’re saying

“Typically, apartments, condos, and co-ops are undervalued, and the homesteading process was meant to correct this.”

— Tom Donato, Representative of Municipal Valuation Services Inc. Long Island

“I know you keep saying transparency, but it sounds to me that what you're describing is only transparent if they make an appointment with you...you know that 98, 99% of the homeowners are not gonna make an appointment with you.”

— Allen Lip, Resident

“Everyone's CMA should be available online.”

— Eli Nafisi, Resident

What’s next

If the Village of Great Neck Estates Board of Trustees officially requests a reassessment, the process would take approximately one year to complete.

The takeaway

The proposed reassessment in Great Neck Estates aims to create a more equitable property tax system by basing assessments on actual home values rather than rental income. However, some residents have raised concerns about the transparency and accessibility of the process, which the village will need to address.