How Much Will My Taxes Increase if the Cape Elizabeth School Bond is Approved?
Updated April 9, 2025
If the school bond is approved on the June ballot, when do we start paying for it?
You may be wondering so that you can plan ahead for any changes to your property tax bill. Therefore, it’s important to know that the school bond would not impact taxes until FY2027, or your October 2026 tax bill, giving you time to anticipate the increase. The increase is also spread out over 6 years and will not hit your tax bill all at once.
Per the town manager, the schedule will be:
Source: Town Council Special Meeting, April 7, 2025
How does the town revaluation impact my taxes?
The town-wide revaluation reassesses property values to reflect current market conditions, ensuring a fair distribution of the tax burden based on up-to-date property values. Revaluations are “tax neutral”, because the town’s budget does not change. What changes is the allocation of payment among households. For more in-depth information on how revaluation works, visit our comprehensive blog post.
To see your property value and tax amount before the town-wide revaluation:
Go to the Tax Assessor’s Database
Type in your last name and hit ‘search’. If no results are found, try searching for your street number and name without your last name.
Scroll down to “Tax Bills” and download the 2023-2024 bill.
Your pre-revaluation property value is listed on the top right, next to “Total Value”.
Your pre-revaluation property tax amount is listed next to “Total Tax” in the same box.
To see your property value after the town-wide revaluation:
Go to the Tax Assessor’s Database
Type in your last name and hit ‘search’. If no results are found, try searching for your street number and name without your last name.
Scroll down to “Tax Bills” and download the 2024-2025 bill.
Your post-revaluation property value is listed on the top right, next to “Total Value”.
Your post-revaluation property tax amount is listed next to “Total Tax” in the same box.
Alternative way to see the difference between your taxes before and after the revaluation:
The Tax Assessor has also provided this report to view your taxes before and after. It’s important to remember that as part of this process, the previous mill rate of $22.34 has decreased to $11.00.
Tax relief options are available to you.
Below, you’ll find a list of common tax relief options that you may qualify for, but there is still more the Town Council can do to support our most vulnerable neighbors.
Homestead Exemption
The homestead exemption provides a reduction of up to $25,000 in the value of your home for property tax purposes, meaning you can save ~$275 on your next tax bill. To qualify, you must be a permanent resident of Maine, the home must be your permanent residence, you must have owned a home in Maine for the twelve months prior to applying. Learn more and apply here.
Cape Elizabeth’s Senior Tax Relief Program
Eligible applicants can save up to $1,500/year. Must be 65 years or older; Be a property owner within Cape Elizabeth for ten years or greater; Have a homestead exemption; Have a federal AGI of less than $70,000; and Have taxes greater than five percent of their gross adjusted taxable income. Learn more and apply here.
Veteran’s Exemptions
A veteran who served during a recognized war period and is 62 years or older; or, is receiving 100% disability as a Veteran; or, became 100% disabled while serving, is eligible for $6,000. Apply here.
Property Tax Fairness Credit
Eligible Maine taxpayers may receive a portion of the property tax or rent paid during the tax year on the Maine individual income tax return whether they owe Maine income tax or not. Learn more here.
State Property Tax Deferral Program
A lifeline loan program that can cover the annual property tax bills of Maine people who are ages 65 and older or are permanently disabled and who cannot afford to pay them on their own. It allows for repayment of the loan once the property is sold or becomes part of an estate. Learn more here.
Thomas Jordan Trust
The Thomas Jordan Trust is a local resource administered by the Town of Cape Elizabeth to help citizens. To apply, use the online PDF application or call 207-799-7665 during normal business hours. Learn more here.
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