The Peconic Bay Community Preservation Fund took in $6.87 million in May, bringing the total for the first five months of this year to $38.78 million.
That number is down 1.2 percent, from $38.78 million in the first five months of 2015. The number of transactions for the first five months of 2016 also dropped, from 2,978 in 2015 to 2,498 in 2016.
“While CPF revenues are on pace to exceed $90 million for the year, the towns should take note of this apparent downward trend,” State Assemblyman Fred W. Thiele Jr. said in a press release, which noted an almost 17-percent decline in revenues in the last quarter compared to the same time period in 2015.
Town by town, East Hampton saw an 18.8-percent increase in revenues, from $11.33 million to $13.46 million in the first five months. Southampton, on the other hand, saw a 10.7-percent descent, from $23.69 million to $21.16 million.
The numbers in Riverhead went down, too, from $1.22 million to $1.11 million. They went up in Southold, from $2.16 million to $2.34 million, and down in Shelter Island, from $850,000 to $700,000.
Since its inception in 1999, the CPF has generated $1.132 billion— $104.48 million of that in the last 12 months—through a 2-percent tax on most real estate sales.
27east on Jun 27, 2016