VEAZIE – Residents voted at Tuesday’s annual town meeting to accept the proposed school and municipal budgets, which are estimated to increase the property tax rate for next year by 8 percent.

Slight reductions were made to both budgets after the Town Council heard concerns from residents at a public meeting last month.

The council directed Town Manager Bill Reed to cut his budget by 2 percent and requested that school officials reduce their budget by 1 percent.

The school budget came in at just over $3 million after the committee and Union 87 Superintendent Kelly Clenchy cut $33,615 from their original draft.

The municipal budget totals $1.73 million, which is a 2 percent, or $30,000, increase over last year. The mill rate is estimated to be $18.33 per $1,000 of property valuation, which is an increase over last year’s mill rate of $17.

During Tuesday’s elections, residents also re-elected Council Chairman Joe Friedman and Rod Hathaway. Hathaway will fill the seat of Bill Hogan, who didn’t run.

Hathaway previously retired from the council last year after serving the town for 24 years, but has decided to return to municipal government.

Gavin Batchelder and Sharon Thebarge also were elected Tuesday to fill two vacant school committee seats left by Hilary Stewart-Reed and Rebecca Weatherbee.