The Cape Elizabeth Town Council on Monday bolstered the town’s senior tax relief program by increasing the program’s funding and the maximum amount beneficiaries can receive.

The original budget set for the program this year was roughly $107,000, but the council unanimously voted to add nearly $193,000 from the town’s unassigned fund balance to bring it to $300,000.

In 2019, the town enacted a senior tax relief program for people aged 65 and older with a maximum annual income of $60,000 and a maximum possible benefit of $500 based on a pro-rata share. Last year, 183 people applied and got relief through the program which had a budget of $95,000, said Councilor Stephanie Anderson. The average income of those who received relief was $28,700 and their average age 77.

“A major difference between this plan and our current ordinance is this is a defined benefit plan,” Anderson said at Monday’s council meeting. “It’s not a pro-rata share.”

The new plan features a tiered system: Those making less than $30,000 annually can receive up to $1,500; those making $30,000 to $50,000 can receive up to $1,000; and those making $50,000 to $70,000 can receive up to $750.

To qualify, applicants must be at least 65 years old, be a resident of Cape Elizabeth with a homestead for more than 10 years, have a homestead exemption and their taxes exceed the adjusted gross income by more than 5%.

“I think this is great progress,” Councilor Penny Jordan said. “I think it’s something we’ve needed to do for several years and, in light of the revaluation, even more so.”

Jordan argued the council should explore expanding the program further in the future, such as lowering the minimum age requirement. The council agreed that the town’s legal counsel should review the possibility.