Assessor commits $19.92 property-tax rate for 2020-21

Town Assessor Clinton Swett has completed the tax commitment for 2020-21 and has set the tax rate at $19.92. [Summary][Report to Town Council] 

The committed tax rate is up 1.2 percent over last year's rate of $19.68, and 6 cents higher than the $19.86 rate predicted when the Town Council adopted the fiscal 2021 budget in May. "The budget cycle which starts at the beginning of the year is only an estimate," Swett explained, adding that town valuation fluctuates between the time the council adopts the budget and when he completes field assessments in late July/early August. "Not to mention, with the COVID-19, some construction had slowed, resulting in a lower valuation," Swett said. Other factors, such as state revenue sharing and aid to education, also affect the mil rate, he said.

The Homestead Exemption for those paying taxes on their primary residence is $20,000, up from $17,000 last year. The Maine Legislature this year increased the benefit to $25,000, but because Cape Elizabeth's certified assessment ratio is 80 percent of market value, the exemption is also adjusted to 80 percent.

Tax due dates are Oct. 1, 2020 and April 1, 2021.

Due to COVID-19 protocols, the town office is not open to accept in-person payment of fall 2020-21 property taxes. [news article] Payments for the first half of the fiscal year may be made by mail, by the town's online Property Tax Payment service, by a bank online bill-pay service, or left in the special drop box in front of the Town Hall.

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