Assemblyman Fred W. Thiele, Jr. today reported that 2021 revenues for the Peconic Bay Community Preservation Fund (CPF) for the first five months produced revenue of $93.69 million. This represents the highest five-month revenue total in the history of the CPF.

A year ago, $45.43 million was collected for the same period. This represents a 106.2% INCREASE over 2020. The revenues for May 2021 were $18.52 million compared with $7.1 million a year ago.

Since its inception in 1999, the Peconic Bay Regional Community Preservation Fund has generated $1.694 billion. In the last 12 months the CPF has generated $188 million in revenue. The 2% tax under the CPF expires in 2050. 

Thiele stated, “Revenues for the CPF continue to reflect the significant increase in real estate activity on the East End since the advent of the COVID-19 pandemic. This marks the 10^th straight month that revenues have exceeded $10 million per month. The last eight months have all exceeded $15 million per month.”

Below are revenues by Town for the first five months of 2021 compared with 2020.