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Peconic Bay Community Preservation Fund increases over 138%

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Assemblyman Fred W. Thiele, Jr. (I-Sag Harbor) reported that the Peconic Bay Community Preservation Fund (CPF) produced $4.92 million in revenue for the Peconic Bay Region for February 2013.  This compared with $3.32 million a year ago. For the year to date, revenues are $16.04 million compared with $6.73 million a year ago. That represents a 138% increase from last year. There have 1613 transactions this year compared with 952 a year ago. The CPF has generated $794.69 million since its inception in 1999.  The 2% transfer tax expires in 2030.

Below are revenues this year to date for 2013 compared with 2012:

Town 2013 2013 % change
East Hampton $1.36m $4.40m +223.5%
Riverhead $0.31m $0.37m +19.4%
Shelter Island $0.05m $0.63m +1160%
Southampton $4.52m $9.92m +119.5%
Southold $0.47m $0.73m +55.3%

Source: Assemblyman Fred W. Thiele, Jr. press release dated March 19, 2013.