Voters in Old Orchard Beach approved the proposed $18.4 million school budget on Tuesday, according to unofficial election results.

A total of 1,988 voters were in favor of the budget, while 521 voters were opposed.

Despite the final school budget sitting at $18.4 million, Superintendent Eric Hanson says the local share will only be $16.3 million after state subsidies.

With the spending plan approved, the mill rate is expected to rise by 30 cents. That means the owner of a median $400,000 home in Old Orchard Beach would pay an additional $120 a year in property taxes.

The primary drivers in the school budget include salaries and benefits for staff, an anticipated increase in health care premiums, and a realignment of special education staffing across the district’s schools.