AUGUSTA – New campaign finance reports show that opponents of the proposed property tax cap that Maine voters will consider next month have raised $876,000 and spent $562,000, and still held the upper hand over proponents financially heading into the final weeks of the campaign.

Two political action committees urging voters to reject the referendum proposal ended the latest filing period on Sept. 30 with more than $313,000 on hand.

Supporters of the citizen initiative have raised more than $460,000 and spent more than $427,000.

Major contributions in recent months to Citizens United to Protect our Public Safety, Schools and Communities, which has led the effort to defeat the ballot question, included $300,000 from the National Education Association, $85,000 from the Maine Municipal Association and $50,000 from author Stephen King.

Three PACs promoting passage of the tax cap proposal reported having less than $34,000 at the end of September.

Tax Cap Yes! reported receiving $10,000 from The Waldron Group in Falmouth.

The most recent polling results released publicly suggest that opposition to the referendum proposal, or skepticism about it, has been building.

Critics of the referendum proposal warn that revenue losses resulting from a tax cap would undermine popular and essential public services.

Proponents of the tax cap maintain that much of the analysis of its potential effects has neglected budget savings options that could be developed by cities and towns.

In June, voters approved a ballot question to increase state aid for public schools from about 42 percent to 55 percent of total costs. The proposal was touted as a way to reduce property taxes by shifting more of the cost of local education to the state.

The new referendum proposal was designed to cap property taxes at $10 per $1,000 of assessed value, based on values in 1996-97.

A Maine Supreme Judicial Court majority has said in an advisory opinion that at least part of the proposal – its provisions for establishing the value of property – would be unlawful.