The Martha’s Vineyard Land Bank reported revenues of $567,466.54 for the business week ending on Friday, July 1, 2022. The land bank receives its funds from a two per cent fee charged on many Vineyard real estate transactions.

Much of the land bank revenue last week came from the town of Chilmark, where three transactions resulted in $171,900. Five transactions earned $140,766.52 in Oak Bluffs. Five transactions generated $130,220 in Edgartown. Four transactions resulted in $75,780.02 in Tisbury. And one transaction earned $48,800 in West Tisbury. No eligible transactions were recorded in Aquinnah. 

The land bank uses its revenues to purchase and manage land for purposes of conservation, preservation and passive recreation. To date the agency has participated in the purchase of more than 3,900 acres of Vineyard land.