The Cape Elizabeth Town Council will hold a public hearing Monday, Jan. 14 on a proposed new tax-rebate program for senior citizens.

The program would provide tax relief of up to $500 for residents 65 and older, who have owned their Cape Elizabeth property for 10 years or more, and have no more than $60,000 annual combined household income. Applicants must also be receiving the state’s Homestead Exemption to qualify.

If adopted in January, qualifying residents may be able to receive rebate checks by March 2019, according to a memo from the council’s ordinance committee.

The proposal is modeled after a similar program in Scarborough.

Tax relief for seniors is a town council goal for 2018. The 2018-19 budget approved by the council in May includes $75,000 to fund the program.