TYLER TECHNOLOGIES UNIT SIGNS ASSESSMENT OUTSOURCING SERVICES CONTRACT WITH LONG ISLAND, NEW YORK COMMUNITY
Seven-Year Contract Valued at More Than $1.9 Million
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Dallas, Texas, April 22, 2002 —Tyler Technologies, Inc. (NYSE: TYL)announced today that its Cole Layer Trumble (CLT) division has entered into a contract to provide reassessment outsourcing services to the Town of Southampton, New York. The total value of the seven-year contract is estimated at more than $1.9 million.
The Town of Southampton, located on eastern Long Island, contains six incorporated villages and more than 51,000 parcels of real estate, making it one of the larger tax assessing units in the state of New York. The town is famous for the many permanent and seasonal residents who own some of the most expensive beachfront property in the world. The total market valuation for the town for the 2000-2001 tax year is set at approximately $13.8 billion. Encompassing an area of 153 square miles, Southampton is home to over 55,000 persons on a year-round basis, with the summer population swelling to twice that number or more.
Under the terms of the agreement, CLT will develop new assessed values for all of the town’s real property by mid-2004, and will keep those values current on an annual basis through 2009. Southampton Assessor Brenda Noa noted that the town is striving to maintain fair assessments on a yearly basis in order to comply with new state guidelines, as well as to avoid major tax shifts that can occur when assessed values are left untouched for several years. “Tyler Technologies’ CLT division is clearly the most qualified organization to provide these services to Southampton over the next seven years,” said Ms. Noa.
Tyler's CLT division is the nation's largest provider of mass appraisal and property tax software and outsourcing services. Since its founding in 1938, CLT has provided mass appraisal services and property tax administration software to over 1,200 assessing jurisdictions in the United States and Canada
CLT is also providing reassessment outsourcing services to Nassau County, New York, under a $34 million contract that extends into 2003. Robert Finnegan, Regional Manager for Tyler’s CLT division, commented, “With our nearby Nassau County reassessment project, we have substantial resources to serve Southampton and other prospective clients in Southern New York.”
Based in Dallas, Tyler Technologies is a leading provider of end-to-end information management solutions and services to 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 nearly 6,000 local government offices in 49 states, Canada and Puerto Rico. More information about Tyler Technologies can be found on the World Wide Web at www.tylertechnologies.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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Apr 22, 2002 |
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