Raymond voters approved a referendum on the town’s municipal budget on Tuesday but voted down a referendum on the school budget.

The $3.8 million municipal budget, an increase of less than 1 percent from this year, passed by a vote of 563 to 390. The $9 million school budget, which is a less than a 1 percent decrease from the current year, failed by a vote of 435 to 517.

The town is facing a revenue shortfall from the use of surplus funds last year in the school department and a decrease in state education aid. Officials say that will contribute to an increase in the town’s property tax commitment to the schools.

Raymond Town Clerk Louise Lester said the town will try to hold another referendum on the school budget before July 1. No date has been set.

In the three-way race for two seats on the Raymond Board of Selectmen, incumbents Dana Desjardins and Lawrence Taylor beat challenger Ronald Buckley.

Desjardins had 531 votes, Lawrence had 463 and Buckley received 279.

Candidates said the big issues facing Raymond would be keeping property taxes low, creating a development plan for the Route 302 corridor and consolidation of public dispatch services.