Categorized | Government

CPF Revenues up 93 Percent Over 2012

Posted on 01 May 2013

Assemblyman Fred W. Thiele, Jr. (I-Sag Harbor) today reported the 2013 first quarter revenues for the Peconic Bay Community Preservation Fund (CPF) were $20.23 million, 92.7 percent higher than the first quarter a year ago when $10.5 million was collected. March 2013 revenues totaled $4.19 million, compared with $3.77 million in March 2012.

The number of first quarter transactions was 2,164 compared with 1,459 a year ago.

Since its inception on 1999, the Peconic Bay Regional Community Preservation Fund has generated $798.88 million.

“The substantial increase in 2013 revenues has been driven by an extraordinary one month total of $11.13 million for January 2013, which appeared to be driven by year end closings in response to federal tax changes,” said Thiele. “However, revenues for both February and March of 2013 were also higher than those months a year ago.”

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