A surge in real estate sales continues to produce record-breaking revenues for the Peconic Bay Community Preservation Fund. The $17.93 million in revenues collected in October was followed by $15.5 million in November, the second highest amount in the fund's 21-year history, Assemblyman Fred W. Thiele Jr. announced on Friday. From January through November of 2020, $118.1 million was collected.
The preservation fund, which provides money for land preservation, water quality improvement, and the protection of maritime heritage, receives the proceeds of a two-percent real estate transfer tax. The money goes to the five East End towns: East Hampton, Southampton, Shelter Island, Southold, and Riverhead.
"The C.P.F. has already generated more revenue for the first 11 months of 2020 than any year in the history of the program," Mr. Thiele said. During that stretch, Southampton Town revenues totaled $68.69 million, up nearly 86 percent over the same period in 2019, East Hampton Town's were $34.69 million, an increase of 66 percent, Shelter Island's were $2.31 million, up nearly 64 percent, Riverhead's were $4.04 million, an increase of more than 28 percent, and Southold's were $8.38 million, up more than 22 percent.
