Cape Elizabeth residents approved a $23.5 million school budget Tuesday by a vote of 635-236.

The budget represents an increase of $296,475, or 1.3 percent, over the current budget. The budget that starts July 1 is expected to have no impact on the town’s tax rate.

About 11 percent of the town’s registered voters cast ballots in the referendum.

The Town Council reduced the School Board’s initial budget recommendation by $110,539. The board made that reduction by eliminating funding for accounting software, website design and a human resources position shared with the town, among other things.

In a non-binding poll of voters, 363 said the budget is too low, 274 said it is too high and 231 said it is acceptable.