LIVERMORE FALLS – Town Manager Martin Puckett told selectmen and Budget Committee members Monday that, overall, he anticipates an increase of about $25,000 in revenues for the 2008-09 year.

The figures on which he based his information were about six months old, he said, and new estimates are being worked on now.

He did warn the board and budgeters that as of April 1, any new equipment machinery bought by a business would not be eligible to be taxed as personal property due to state legislation, but the town will not see an impact on revenues until 2008-09 year, he said.

Revenue from real estate and personal property assessments are the town’s two largest sources of revenue.

Last year, the town assessed real estate taxes at $2.25 million and personal property taxes at $1.09 million, Puckett said.

Personal property tax assessments declined last year due to depreciation, while residential assessments increased.

The trend will continue, he said.

Selectman Louise Chabot suggested a task team form to study personal property revenue loss to find out if there are ways to minimize the impact.

The third largest source of income is state revenue with the figure constantly changing, Puckett said. Estimates are based on last year’s amount of $499,488, he said, but estimates calculated in July show $550,200.

Historically, when taxes are committed a conservative figure is used for anticipated revenue, he said.

Some investment changes had produced increase earnings and more interest.

“To date we have earned $18,000 from our investments and we should double that amount by July,” Puckett said. “Last year, we only earned $10,000. We have switched to a higher yield money market account through Androscoggin Bank.”

He expects a slight increase in motor vehicle excise taxes, the town’s fourth largest revenue source.

“Last year we collected $351,490.50, which is close to the year before,” he said.

People are buying smaller cars due to fuel prices, he added, but there are more buyer incentives this year than last.

“We have collected $150,000 to date, and most sales happen in the spring and during tax refunds,” Puckett said.

Another source of revenue is the sale of town property gained through nonpayment of taxes.

On Tuesday, Jan. 8, notices of foreclosure will be sent out with the foreclosure date set for Feb. 22.

Currently 66 accounts are delinquent compared to 77 last year, Puckett said.

In other matters, selectmen voted to put a 1988 converted tanker truck out to bid, with the specification that it not be used as a municipal emergency vehicle. The latter is a condition of a federal grant the Fire Department received to buy a new tanker truck.

Bids are due back Jan. 22.

The select board also agreed to sign an agreement to get funds from the Joseph W. Knapp Trust for the town gazebo. The trust was established by a former community band member in the late 1930s.

The amount that could be received is $3,000 a year, Puckett said. The other two benefactors are the Odd Fellows Lodge and Charity Rebekkah Lodge and members of those organizations would need to sign the agreement.

“The gazebo has looked beautiful this season,” select board Chairwoman Jackie Knight said of the holiday decorations. “It’s been great.”