The Falmouth Town Council unanimously approved the town’s $22.11 million proposed budget on Monday evening.

The budget, which goes into effect in July, is up 4.88% from the current fiscal year. The financial plan, which focuses on maintaining services and funding debt service and capital improvement projects, saw minimal changes from when it was first introduced on March 11.

The council made one amendment, increasing the use of tax increment financing funds for the next fiscal year by approximately $570,000. This money will be used for a sidewalk project, and the state will match these funds through the Urban Partnership Initiative, which it is also contributing to sidewalk projects currently underway in Falmouth.

The TIF fund allocation for the sidewalk project will not impact the tax rate, according to Town Manager Nathan Poore, because the funds were already available and reserved for corridor improvements in a later year.

This budget will increase the tax rate by 5.52% and bring it up to $3.06 per $1,000 of assessed home value. For a Falmouth home assessed at $850,000, homeowners would see an increase of $136 on the town portion of their tax bill.

Falmouth schools pitched a $55.68 million budget on March 4, which the school and town leadership have since taken down to $55.61 million. Following the Town Council approving the budget for referendum in May, Falmouth voters will choose whether to approve the school budget on June 9.