I've lived in Freeport (north of Sunrise, west of Long Beach Ave.) for 24 years.
The homes here are better values because it is a truly multicultural village and because of some lingering effects of racial housing discrimination from many years ago.
Yes, the schools are really good. I had three kids go through the schools from pre-K to graduating from the high school, and they are all in college now, so I can tell you it is a fun, diverse school district with very good administrators.
The schools have some outstanding music, arts and athletic programs.
Taxes aren't low (this is Long Island, after all), but the value of what you pay in Freeport school taxes vs. what you get in quality is one of the best on Long Island.
In other words, you can pay a LOT more in taxes in other villages, but not get much better schools!
As other posters have said, though, be careful what area you buy a home in.... more
For flood zone information see links below...also consider asking the seller if any homeowner insurance claims were made due to flooding--ask for a CLUE report...