There is no increase in the mill rate for residents of Carbonear in the coming year, but property assessments are up, which means many residents will be paying more in property tax.

The town tabled its budget last week.

Finance Committee Chair Chris O’Grady says overall assessments have increased by 5 per cent, meaning some residents will see a small increase in their property taxes.

The council and staff are continuing to find ways to attract more business to the town and grow the tax base. Funding has also been set aside to complete a town plan review and redevelopment of the town’s website.