Preheat oven to 350°. In a bowl, stir together salt and pepper. Arrange one-third of potato slices in bottom of a buttered 9- by 13-in. baking dish. Sprinkle with 1/4 tsp. salt and pepper mixture. Top with half the bacon, 1/2 cup cheese, and 1 tsp. caraway seeds. Repeat layering.
Arrange remaining third of potato slices on top. Sprinkle with remaining 1/4 tsp. salt and pepper mixture, 1/2 cup cheese, and 1 tsp. caraway seeds. Dot with butter, cover with foil, and bake 30 minutes. Remove foil and bake until golden brown on top and cooked through, about 40 minutes.
Note: Nutritional analysis is per serving.