LIVERMORE FALLS – Property owners face up to a 15 percent increase in property values as the town moves to comply with state valuation guidelines.

Selectmen, in their capacity as assessors, authorized the town’s contracted assessing agent, Bill Van Tuinen, on Monday to come up with the exact percentage needed to adjust town values to 100 percent of the state’s assessed value.

The state uses two-year-old real-estate sales data and local assessments to come up with a value for a town.

If the board had not opted to move forward with what Van Tuinen referred to as a “moderate adjustment” to values, the town would have to decrease personal property assessments at the same rate and wouldn’t be able to give the full homestead or veterans exemptions to property owners.

Board Chairwoman Louise Chabot asked if adjusting the valuation would affect the tax rate.

It would affect it either way, Van Tuinen said.

If you certify at 100 percent for a higher valuation you would have a lower tax rate; if you did not certify at 100 percent, you would have a lower valuation and a higher tax rate, he said.

Resident Fred Nadeau said if personal property rate assessments had to be lowered, it would shift some of the business owners’ taxes to homeowners and other property owners to make up the difference.

Van Tuinen recommended that the board adjust the valuation so the town would not have to adjust exemptions or personal property.