LIVERMORE – In an attempt to address the phenomenon of having property values sometimes significantly lower than sales prices, town officials are looking into the possibility of doing a valuation update, select board administrative assistant Kurt Schaub said.

The update would analyze the real estate market in town and develop values based on current conditions, Schaub said.

The board had a presentation Monday from John O’Donnell, owner of the assessing firm that conducted the town’s revaluation about four years ago.

He informed the select board that average assessment of property in Livermore is about 78 percent of what properties are selling at, Schaub said.

Select board members are concerned about property owners getting the full Homestead exemption among other issues, he said.

The valuation update process would provide people with public input, he said.

Schaub stressed that at this point, doing an update is still in the discussion stage.

But if the board decides to go forward with it, it would probably involve raising $50,000 over a two-year period, Schaub said.

O’Donnell told the board that the best valuation is done by including public input and maintaining equity.

“If equity and fairness are not there, it is not a good valuation,” Schaub said O’Donnell told the board.