Community Preservation Fund revenues for the five East End towns during the first six months of 2022 are 5.3% lower than they were for the same period in 2021, but both North Fork towns saw increases.
Money for the CPF comes from a 2% tax that buyers pay when purchasing East End properties and is used to purchase open space for preservation and fund water protection programs.
The five towns took in $113.5 million during the first six months of 2021 and $107.44 million for the same period this year, according to Assemblyman Fred Thiele Jr. (D-Sag Harbor).
“Real estate activity is less than a year ago,” Mr. Thiele said in a press release. But it still remains at historically high levels compared with CPF revenues prior to the pandemic.
Both North Fork towns — Riverhead and Southold — actually showed increases, while Shelter Island, Southampton and East Hampton all experienced declines.
Riverhead recorded a 43.9% increase, bringing in $4.75 million through the end of June this year compared with $3.3 million for the same period in 2021.
Southold saw a 3.9% increase this year, garnering $6.87 million this year compared with $6.61 million last year.
Shelter Island saw a 40.6% dip in its CPF revenues during the first six months of 2022, bringing in $1.48 million this year compared with $2.498 million for the same period of 2021.
While Southampton was down by 6 percent this year, it brought in $59.2 million for the first half of this year as compared with $62.96 million last year.
East Hampton dropped by 7.9 % this year, bringing in $35.14 million this year compared with $38.14 million for the same six months of 2021.
Since its inception in 1999, the Peconic Bay Regional Community Preservation Fund has generated $1.918 billion and the CPF has generated $204.5 million in the last 12 months, Mr. Thiele said.