Peconic Bay Community Preservation Fund Revenues for 1st Quarter of 2022 Increase by 1.6% Compared with 2021
1st Quarter revenues are $56.1 million compared with $55.22 million in 2021; Revenues are the largest first quarter in the history of the CPF
Assemblyman Fred W. Thiele, Jr. (D-Sag Harbor) today reported that 2022 first quarter revenues for the Peconic Bay Community Preservation Fund were $56.1 million, 1.6% higher than the first quarter a year ago when $55.22 million was collected.The $56.1 million for the first quarter is the largest first quarter in the 24-year history of the CPF Program. March 2022 revenues totaled $16.81 million compared with $18.15 million in March 2021, or 7.4% less than the same month last year.
Since its inception in 1999, the Peconic Bay Regional Community Preservation Fund has generated $1.867 billion. In the last 12 months, the CPF has generated $211.5 million.This is the 20th consecutive month that revenues have exceeded $10 million. The 2% tax under the CPF expires in 2050.
Below are revenues by Town for the 1st quarter of 2022 compared with 2021.
2022($) | 2021($) | % increase | |
East Hampton | 18.75m | 17.50m | +7.1% |
Riverhead | 2.41m | 1.82m | +32.4% |
Shelter Island | 1.13m | 1.34m | -15.7% |
Southampton | 30.25m | 31.32m | -3 .4% |
Southold | 3.54m | 3.22m | +9.9% |
Total | 56.10m | 55.22m | +1.6% |