Saco residents approved a $33.9 million school budget Tuesday by a vote of 365-163.

The spending plan for the fiscal year starting July 1 represents a $1 million, 2.6 percent, increase over the current budget.

It will increase annual property tax bills by $50 per $100,000 of valuation – $100 a year for the owner of a home assessed at $200,000.

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