The Village of Great Neck Board of Trustees approved a $12.4 million budget for the 2023-24 year Friday, an increase of roughly $200,000 from the current year’s level.
Homestead properties, which are classified as homes with three units or less, will be taxed at 2.16 per $1,000 of assessed value, increasing slightly from the 2022-22 budget. Non-homestead properties, which are mainly commercial buildings and places with five or more residential units, will also see a slight decrease in the tax rate from 3.82 per $1,000 of assessed value to 3.44.
Homestead-class properties, according to the budget, make up more than 87%, or $6.5 million of the village’s $7.45 million tax levy. The non-homestead class properties make up just over $916,000 or 12.3% of the total tax levy.
Clerk-Treasurer Abraham Cohan said last month there is a roughly $30,000 shift in taxes that homestead property owners will have to pay due to the slight decrease in non-homestead properties in the village this year.
Mayor Pedram Bral last month, said some of the dilapidated commercial buildings that have been torn down have been getting assessed at a lower value, so it shifts the tax burden to homestead owners. Having non-homestead or commercial developments come to Great Neck, he said, should be welcomed so that residential homeowners can see decreases in their taxes.
Among several increases in the budget are total general government support — subsidies and incentives from the local, state and federal levels — which is up 5%, amounting to a $196,000 difference from last year, as well as an 8% rise in the fire services contract.
Due to PSEG Long Island’s charges rising — specifically per-kilowatt hours rates — energy and pole rental of street lights has been increased $5,000 in the budget, village officials said last month.
Officials previously mentioned that they have saved almost $60,000 as a result of the installation of more LED lights since 2015, a change that Bral believes they “can do even better” on. The village’s debt service has dropped from $1,014,068 to $900,224 over the past year.
A total of $2 million is allocated for the new village hall, but the budget shows a decrease in repairs and services, partly due to the digitization of paper assets and the recent meetings taking place in the board’s temporary location at 767 Middle Neck Road.
The board unanimously adopted the budget with the exception of Trustee Anne Mendelson, who was absent during the vote.
