East Hampton Land Fund Income Lags

East Hampton Town lagged behind the rest of the East End in income from the Peconic Bay Community Preservation Fund through the first eight months of the year.

State Assemblyman Fred W. Thiele Jr. said in a release yesterday that revenue from a 2-percent tax on most real estate sales had declined 13.7 percent in East Hampton from the same period last year. Regionally, community preservation fund income for 2017 was up nearly 4 percent.

Southold Town led the pack, with a spike of 27.4 percent. Shelter Island followed with a 12-percent increase. Southampton's figure jumped by 11.3 percent, and Riverhead's by 3.4 percent.

Through August, East Hampton Town's preservation fund income was just under $17.3 million; it was $20 million for the same months in 2016. Southampton took in $38.4 million between Jan. 1 and Aug. 31.

Since the preservation fund was established in 1999, it has taken in more than $1.2 billion for land purchases and historic preservation.