C.P.F. Revenues Down on the East End, Except in East Hampton

With the summer real estate market drawing to a close, the Peconic Bay Community Preservation Fund revenues are down nearly 6 percent for the first seven months of 2016 as compared to 2015, though East Hampton Town has shown an uptick.

The C.P.F. is showing $54.85 million so far in 2016, down 5.7 percent from last year, according to Assemblyman Fred W. Thiele Jr. At this point in 2015, the 2-percent real estate transfer tax had brought in $58.19 million.

East Hampton is the only town on the East End where revenues are up by more than 1 percent. In fact, they are up 9.5 percent, from $17.23 million in the first part of 2015 to $18.87 million so far this year. The only other town to see an increase is Southold, where revenues are up a modest .9 percent, from $3.19 million at this point in 2015 to $3.22 million so far this year.

Southampton Town's C.P.F. revenues are down 13.3 percent, from $34.73 million to $30.12 million. Shelter Island Town showed the biggest -- 20 percent -- and Riverhead Town's revenues are down 7.9 percent.

In July alone, C.P.F. revenues totaled $8.69 million; they were over $9.91 million in July of 2015.

Mr. Thiele said that July was the fifth consecutive month that C.P.F. revenues were less than the same month in 2015, even though C.P.F. revenues are on pace to exceed $90 million for the year. There has been a 16.1 percent decline over those five months.