POLAND — The Select Board on Tuesday approved requesting bids for a townwide property revaluation.

Deputy Town Manager Nikki Pratt said the state’s valuation of the town for 2024 will be near $1 billion while the town’s valuation will remain at $870 million.

The difference between the two figures will mean the town will receive less state revenue.

According to the Maine Department of Administrative and Financial Services there are 15 Maine revaluation firms.

Proposals must arrive by 11 a.m. Oct. 26. The Select Board will review them its Nov. 7 meeting.

The town instituted a flat-rate increase of 20% on all property assessments — residential, waterfront and commercial — earlier this year earlier to narrow the difference between the state’s and town’s valuations.

That action had no impact on property taxes. Any increase was due to the municipal and Regional School Unit 16 budgets, which both passed.