Community Preservation Fund revenue across the East End was $8.58 million in July, 15.7 percent lower than the same month in 2018. The dip continued a trend throughout 2019 so far.
In the first seven months of the year, the CPF — funded through a 2 percent tax on real estate transactions — raked in $46.8 million, according to the office of New York State Assemblyman Fred W. Thiele Jr. However, in the same period last year the revenue totaled $60.36 million. That works out to a 22.5 percent decline.
East of the five East End towns maintains its own CPF, with Southampton and East Hampton collecting the most revenue by far. East Hampton Town’s fund has seen its receipts slide 32 percent this year through July, going down from $19.97 million during the same period in 2018 to $13.58 million in 2019. Southampton Town’s revenue is down 20.1 percent, from $32.68 million to $26.11 million.
Since its inception in 1999, the Peconic Bay Regional Community Preservation Fund has generated $1.43 billion, according to Mr. Thiele’s office.