C.P.F. Up, but Not Here

Income into the Peconic Bay Region Community Preservation Fund — the land preservation and water quality fund established by the five East End towns — in June reached its highest monthly total since December 2014.

A total of $11.2 million was collected for the regional fund that month. This year’s six-month total for January through June is also up. At $49.2 million, it is 6.8 percent higher than the total for the first half of 2016.

According to Assemblyman Fred W. Thiele Jr., who issued a press release with the recent figures, “Revenues have shown increasing strength in the last four months. These revenue increases demonstrate a strengthening real estate market on the East End.”

In East Hampton, however, preservation fund revenues, which come from a 2-percent tax on real estate transfers, were down by just over 20 percent in the first six months of 2017, compared to last year. Approximately $13 million was raised from January through June.

Compared to the first half of last year, revenues in Southampton were up by 22 percent, at $30 million. The Town of Southold saw a 26-percent increase, with $3.5 million flowing into its preservation fund between January and June. Revenues in Riverhead were up by 10 percent, at $1.5 million, and up by 20 percent for Shelter Island, at $1 million.