Assemblyman Fred W. Thiele, Jr. (D-Sag Harbor) today reported that 2022 revenues for the Peconic Bay Community Preservation Fund for the first 5 months were $89.59 million. This is 4.4% lower than the same period a year ago. A year ago, $93.69 million was collected for the same period. The revenues for May 2021 were $18.52 million compared with $17.29 this year.
Since its inception in 1999, the Peconic Bay Regional Community Preservation Fund has generated $1.9 billion. In the last 12 months, the CPF has generated $206.5 million in revenue. The 2% tax under the CPF expires in 2050.
Thiele stated, “Real estate activity is less than a year ago. However, CPF revenues in 2022 still remain at historically high levels when compared to revenues before the pandemic. Revenues for the first five months of 2022 are the second highest in the 24-year history of the program.”
Below are revenues by Town for the first five months of 2022 compared with 2021.