LIVERMORE — A preliminary 2014 state assessment indicates the town’s valuation has dropped $2 million, or 1.08 percent, to $182.8 million from last year.

The state report “indicates the town’s assessed values are 105 percent of market based on arms-length sales that took place over the past two years,” administrative assistant Kurt Schaub said.

Arms-length sales is a description of an agreement made by two parties freely and independently of each other, without some special relationship.

The state valuation is used in calculating the town’s share of municipal revenue sharing and in determining the level of contribution to RSU 73 and of Androscoggin County taxes, among other things, he said.

Schaub said he told selectpersons that O’Donnell and Associates, the town’s assessing agent, completed the field work for annual assessing.

He believes the taxes can be committed during the Board of Selectpersons meeting Aug. 12. Tax bills could be mailed a week after that, he said.

He also updated the board Monday that in conjunction with the replacement of the well pump at the Town Office, there was a problem with the pressure tank that caused a considerable moisture problem in and around the furnace room over several days.

The well pump was replaced in late May after it stopped working. The Town Office had to close midday until a new one was installed.

Apparently the moisture was absorbed within the Sheetrock and a minor mold problem developed, he said. Schaub said he cleaned up the visible mold with bleach. A new pressure tank was installed on Tuesday. PuroClean of Livermore planned to address the mold issue, he said.

The combined cost of both projects is in the $600 to $700 range, he said. The replacement of the well pump and a callback on a problem that turned out to be the pressure tank cost about $1,400.

“PuroClean advises that the amount of mold did not pose a health risk but it should be fully explored nevertheless,” Schaub said.

Some sheetrock needs to be replaced, he said.

In another matter, a committee made up of selectpersons, RSU 73 Director Cindy Young and resident Muriel Bowerman will review applications for the $1,000 Pollard Scholarship on Monday, July 29. The applications from Livermore residents are due at 4 p.m. that day. A drawing will be held among the qualified applications.

Selectpersons also plan to award the Boston Post Cane to its eldest resident during the July 29 selectpersons meeting. The recipient turned 98 in May, Schaub said.

dperry@sunjournal.com