The Cape Elizabeth Town Council has approved a $51.6 million combined municipal and school budget. The new budget is a $3.2 million, or about a 1.1% increase over this year’s.
The budget brings results in a new town property tax rate of $21.08 per $1,000 of assessed value, up 82 cents from last year. The owner of a $500,000 home will see an increase of $410 in their tax bill to $10,540 in property taxes.
The municipal budget of $18.4 million is up $1.5 million, or roughly 9.3%, over this year’s budget. Councilors passed it 5-0 May 16, with Chairperson Jeremy Gabrielson and Councilor Nicole Boucher absent.
The school budget of $31.3 million is up $1.3 million, or 4.7%, from this year. The council authorized it, 5-2, May 19 with Councilors Timothy Reiniger and Susan Gillis voting against it.
The school budget will go to voters for a validation June 14.
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