East Hampton Town collected more than $11.7 million for the community housing fund last year, for a total of almost $25.19 million since the program was implemented in 2023.
Last year’s figure was greater than the $10.23 million collected by the town in 2024, which itself improved upon the $3.23 million collected in its first year.
The $11.7 million collected last year was part of total revenues of $79.12 million collected in four East End towns for the Peconic Bay Community Housing Fund since the program’s inception, while the community preservation fund in the five East End towns took in $152.77 million in 2025, up from $131.51 million in 2024. East Hampton’s total C.P.F. revenue for 2025 was $46.91 million.
Assemblyman Tommy John Schiavoni announced the revenue statistics on March 3.
Four of the five East End towns passed public referendums in 2022 accepting a 0.5-percent transfer tax establishing the community housing fund, adding to the existing 2-percent transfer tax of the community preservation fund. East Hampton, Southampton, Shelter Island, and Southold are the towns participating in the housing fund.
Collection of the 0.5-percent C.H.F. money is applied to real estate contracts executed after April 1, 2023. This provision required each of the participating towns to evaluate all closing documents within their respective towns after that date to determine the proper application of funds to the C.H.F. and C.P.F.
“The C.H.F. programs are created and administered separately within each of the participating towns. The towns can use the C.H.F. to provide financial assistance to first-time homebuyers not to exceed 50 percent of purchase price,” according to the release, as well as for the production of community housing for sale or rent, “rehabilitation of existing buildings for community housing, housing counseling, and the acquisition of real property in existing housing units, to result in production of community housing for sale or rent.”
“The community housing fund is necessary to address the severe housing shortage that we face here on eastern Long Island,” Mr. Schiavoni said in the release. “I commend each of the participating towns for instituting programs to address the housing challenge. The C.H.F. is the local funding source critical to acquire grants from New York State which would augment programs being developed by the towns. Let’s help make it possible to keep our children here if they choose.”
