Assemblyman Fred W. Thiele, Jr. (I, D, WF-Sag Harbor) today reported that 2019 first quarter revenues for the Peconic Bay Community Preservation Fund (CPF) were $16.54 million, 29.3% lower than the first quarter a year ago when $23.4 million was collected. March 2019 revenues totaled $4.56 million compared with $6.54 million in March 2018.

Since its inception in 1999, the Peconic Bay Regional Community Preservation Fund has generated $1.399 billion. The 1^st quarter revenue number for 2019 is the lowest 1^st quarter total since 2012. The 2% tax under the CPF expires in 2050.

Thiele stated, “CPF revenues have shown declines for three consecutive months. Sales activity has declined, particularly at the high end of the market. Local government officials should closely monitor CPF revenues in the coming months and be cautious in making any long term projections.”

Below are revenues by Town for the 1^st quarter of 2018 compared with 2017.