By Hank Russell
The Peconic Bay Region Real Estate Transfer Tax generated $89,476,946.36 in the first half of 2025. That is 15% greater than in the first half of 2024 when an estimated $77,890,032.87 was collected. Of that, the Community Preservation Fund (CPF) generated $72,370.244.83 — a 14% increase compared to the first half of last year, with an estimated $63,238,266.94 — while the Community Housing Fund (CHF) generated 17% more with an amount of $17,106,701.53 (last year’s was an estimated $14,651,765.93).
All but one of the five East End towns saw their CPF revenue increase over the amount from the first six months in 2024. East Hampton raked in $23,672,085.02, which is 17% more than last year, when the town collected an estimated $20,164,302.98. Shelter Island’s revenues were up 8% from $800,121.50 (est.) to $861,394.74. Southampton saw a 15% jump in collections from an estimated $33,045,293.88 in 2024 to $38,037,829.35 this year, while Southold went from an estimated $4,597,345 to $5,855,497.02 — a whopping 27% increase.
Riverhead, meanwhile, was off by 15%, taking in only $3,943,438.70 this year, as opposed to $4,631,203.20 the previous year.
CHF revenues for East Hampton increased 17% this year to $5,918,021.25, compared to $5,041,075.75 in the first half last year, and Shelter Island’s revenues were up 8% from $200,030.37 (est.) to $215,348.69. Southampton collected an estimated $8,261,323.47 during the first half of 2024 and $9,509,457.34 in the first six months of this year — an improvement of 15%. In Southold, collections rose 27% to $1,463,874.25 this year; last year’s revenues were $1,149,336.34 in 2024.
These figures were provided by the office of New York State Assemblyman Tommy John Schiavoni (D-Sag Harbor).
The CHF was approved by a 2022 voter referendum in the towns of East Hampton, Shelter Island, Southampton and Southold, establishing a 0.5% increase in the Peconic Bay Region Real Estate Transfer Tax with 2% of the tax going to the CPF and 0.5% going to the new CHF. The CHF was applied to real estate transactions going into contract after April 1, 2023.
Since January 2024, the Community Housing Fund has generated an estimated $47.7 million.
Since its inception in 1999, the Peconic Bay Region Real Estate Transfer Tax has generated $2.36 billion in total revenue.