The Gorham Town Council has approved a nearly $50 million school budget for the upcoming school year.

Following an hour-long public hearing Tuesday night, councilors voted in favor of the budget, 4-2.

This is the third budget proposal after residents voted against the first two.

School leaders say the new proposal would result in a property tax increase of just over $300 on a $400,000 home.

Residents will vote on the latest budget proposal next Tuesday.