SHERMAN — Voters approved Saturday a $14.7 million spending plan, which will keep next year’s tax rate flat.

The $5.4 million town budget passed 260 to 57, while the $9.4 million school budget passed with 207 votes in favor and 110 against.

Overall, the budget is a 0.7 percent increase from this year’s spending plan, but a hike in revenue will prevent residents from seeing their taxes increase, First Selectman Don Lowe said.

“We didn’t raise anybody’s taxes, but we still funded all the services that are necessary to run Sherman efficiently,” Lowe said.

Turnout was around 11 percent.

Lowe said the flat tax rate meant there was little controversy in the budget, which led to low turnout.

“People assumed it would pass and there wasn’t a lot of buzz about it,” he said.

The town budget, which increased by 1.8 percent, added about $9,350 for the Senior Center.

The plan also put $1,000 toward economic development. Lowe expects the town to use this money to pay for brochures and signs to promote local businesses. The town will also be eligible for grants and other funding.

“I have been spending some of my efforts on increasing the visibility of our business community,” Lowe said. “We do have a nice business community in Sherman and not enough people know about it.”

Meanwhile, the school budget decreased slightly. “The Board of Education did a wonderful job putting that together,” Lowe said.

He said town officials “watched every dollar” as they crafted the budget.

“It’s a thrifty budget, but it’s not cruel or anything like that,” Lowe said. “Things are going to be funded adequately. We’re not shorting the town in any way.”