On Friday, New York State Assemblyman Fred W. Thiele, Jr. announced the Peconic Bay Community Preservation Fund (CPF) produced $4.92 million in revenues for the Peconic Bay region in February 2013 compared with $3.32 million a year ago. For the year to date, Thiele said revenues are at $16.04 million compared with $6.73 million a year ago, a 138 percent increase from last year.
There have 1,613 transactions this year compared with 952 a year ago.
Shelter Island had the largest growth so far this year, collecting $630,000 in 2013 compared to $50,000 in 2012, a 1,160-percent increase. East Hampton has also seen significant growth, taking in $4.40 million in 2013, a 223 percent increase with Southampton Town earning $9.92 million in 2013, a 119 percent increase. The Town of Southold also saw gains, earning $730,000 this year, a 55 percent increase from 2012. Riverhead had a 19 percent increase so far this year, taking in $370,000.
The CPF has generated $794.69 million since its inception in 1999. The two-percent transfer tax expires in 2030.