CPF Revenue For First 11 Months Of 2019 Down 23 Percent - 27 East

Real Estate News

Real Estate News / 1665886

CPF Revenue For First 11 Months Of 2019 Down 23 Percent

icon 1 Photo
CPF Revenue

CPF Revenue

authorStaff Writer on Jan 10, 2020

Revenues for the Peconic Bay Region Community Preservation Fund during the first 11 months of 2019 were down 23.2 percent compared to the same period in 2018, according to New York State Assemblyman Fred W. Thiele Jr.

The CPF take across the five East End towns totaled just $69.29 million through November, compared to $90.28 million through November in 2018. Mr. Thiele’s office says projected revenue for the entire year is $76 million, which would be the lowest since the downturn in the real estate market from 2008 to 2012.

Each town maintains its own CPF. East Hampton Town brought in $20.9 million, a 29 percent year-over-year decrease. Southampton Town’s revenue was $36.98 million, a 23.7 percent slide.

Since its inception in 1999, the Peconic Bay Region Community Preservation Fund has generated $1.451 billion for open space preservation, water quality and other uses. It is funded through a 2 percent tax on most real estate transactions.

You May Also Like:

Quail Ridge Residents Scramble After Apartments Are Purchased for Redevelopment | 27Speaks Podcast

The tenants of Quail Ridge — the two dozen studio and one-bedroom apartments spread over ... 3 Jul 2025 by 27Speaks

Water Mill Property Where Hal Buckner and Dorothy Lichtenstein Left Their Marks Is for Sale

A Water Mill property that hosts a former dairy barn turned artist’s studio and a ... 30 Jun 2025 by Brendan J. O’Reilly

Sundays on the Bay Hits the Market

Sundays on the Bay restaurant and marina on Dune Road in Hampton Bays has hit ... 29 Jun 2025 by Staff Writer

Hamptons Rental Market Remains Alive and Well

To paraphrase Mark Twain, reports of the demise of the Hamptons summer-rental market are greatly exaggerated. “Any hint that the Hamptons rental market is anything but robust is completely wrong,” said Corcoran associate broker Gary DePersia in East Hampton. An interesting dynamic is stirring in the Hamptons vacation-rental market. Although there has been an unprecedented rise in short-term rentals and the aftershocks of the COVID-19 pandemic linger, it has been a bumper crop year for Wall Street, interest rates have remained steady and a new breed of demanding customer is emerging. Despite it all, the Hamptons vacation-rental market remains as ... 19 Jun 2025 by Joseph Finora

Jon Vaccari Joins Noble Black & Partners at Douglas Elliman

Jon Vaccari, a longtime resident of Sag Harbor, has joined Noble Black & Partners at ... 18 Jun 2025 by Staff Writer

Appeals Court Sides With Landowner Over Southampton Village ZBA

Southampton Village has lost an appeal that sought to reinstate a Zoning Board of Appeals ... 12 Jun 2025 by Brendan J. O’Reilly

Last Parcel of Startop Ranch in Montauk Sells

The last plot of land at Startop Ranch in Montauk, 107 Startop Drive, has sold ... by Staff Writer

Hamptons Real Estate Roundtable, Memorial Day Weekend 2025 Edition

With Memorial Day weekend about to kick the Hamptons into high season, The Express News ... 22 May 2025 by Moderated by Brendan J. O’Reilly

Au-Delà Real Estate Vows To Go 'Beyond'

Au-Delà Real Estate, a new boutique real estate firm based in East Hampton, is now ... 20 May 2025 by Brendan J. O’Reilly

AI Helps Rental Seekers Find Homes That Match Their Aesthetic Preferences

Consumers increasingly have an expectation of superior, more personalized service based on their own particular ... by Steven Loeb