Dallas, June 23, 2006 -- Tyler Technologies, Inc. (NYSE: TYL) announced today that Utah County, Utah, has selected Tyler's CLT division to perform a complete revaluation of approximately 6,400 commercial and industrial properties. The value of the contract is more than $1.25 million.
The one-year project includes digital photos and data collection and the use of handheld PDAs to sketch properties in the field. Tyler will provide land valuation, neighborhood delineation, and other analytical activities, including final valuation. Tyler is working together with Utah County to develop the valuation model based on Marshall & Swift® methodology. The project will be enhanced by the use of the county's geographic information system and other databases to aid in valuation efforts.
Utah County Assessor Kris Poulson is excited about Tyler's involvement with his county. He commented, "Tyler has the expertise to complete this project on time. The expectations are high and I anticipate the end product will meet the high standards we have set."
Andy Teed, president of Tyler's CLT division, commented, "This contract represents our first opportunity to provide appraisal services in the state of Utah and we are looking forward to a great relationship with Utah County. We expect to combine our extensive appraisal experience with advanced technology to achieve superior results."
Utah County is a rapidly growing area, with the population increasing more than 20 percent from 2000 to 2005. The county encompasses approximately 2,000 square miles and contains the major cities of Provo and Orem.
Tyler's CLT division is the nation's largest provider of mass appraisal and property tax software and reassessment outsourcing services. Since its founding in 1938 as the Cole Layer Trumble Company, the division has provided appraisal outsourcing services and property tax administration software to over 1,200 assessing jurisdictions in the United States and Canada.
Based in Dallas, Tyler Technologies is a leading provider of end-to-end information management solutions and services for local governments. Tyler partners with clients to make local government more accessible to the public, more responsive to needs of citizens, and more efficient. Tyler's client base includes more than 6,000 local government offices throughout all 50 states, Canada, Puerto Rico and the United Kingdom. Forbes Magazine named Tyler one of the "200 Best Small Companies" in America in 2004. More information about Tyler Technologies can be found at www.tylerworks.com.
Tyler Technologies, Inc. has included in this press release "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 concerning its business and operations. Tyler Technologies expressly disclaims any obligation to release publicly any updates or revisions to these forward-looking statements to reflect any change in its expectations. These expectations and the related statements are inherently subject to risks and uncertainties that could cause actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to, changes in competition, changes in general economic conditions, changes in the budgets and regulatory environments of the Company's customers, risks associated with the development of new products and the enhancement of existing products, the ability to attract and retain qualified personnel, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.
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