TYLER TECHNOLOGIES UNIT SIGNS NEW TAX SOFTWARE CONTRACTS IN NEW YORK AND INDIANA
Two Contracts for Integrated Assessment System Valued at $1.8 Million
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Dallas, Texas, September 30, 2002 - Tyler Technologies, Inc. (NYSE: TYL) announced today that its Cole Layer Trumble (CLT) division has signed agreements to provide its Integrated Assessment System (IAS) to the Town of Brookhaven, Long Island, New York and Henry County, Indiana. Under the two new contracts, which have a combined value of approximately $1.8 million, Tyler will provide software, hardware, training, project management and other professional services.
These new accounts underscore Tyler's ability to provide current local government customers with additional products from its broad product lines. Both the Town of Brookhaven and Henry County have purchased Tyler's MUNIS suite of financial software within the past year. Brookhaven is the second New York installation of IAS and Henry County is the first client in Indiana to use the IAS Computer Assisted Mass Appraisal (CAMA) module.
CLT's agreement with the Town of Brookhaven, New York represents the latest of several contracts on Long Island over the past two years. CLT is also providing reassessment outsourcing services, as well as its IAS system, to Nassau County under a $34 million contract that extends into 2003. "With our nearby Nassau County project and our long-term outsourcing contract with the adjoining town of Southampton, we have substantial resources dedicated to clients in southern New York," commented Robert Finnegan, Regional Manager for Tyler's CLT division.
Brookhaven, located in central Long Island, contains several incorporated villages and more than 190,000 parcels of real estate, making it the largest township assessing unit in the state of New York. With a total population of nearly 450,000, the Town is known for its waterfront properties. In terms of both new construction and real estate values, Brookhaven is one of the fastest growing areas in the country, with a total market valuation of approximately $43 billion.
Under the terms of the new agreement, CLT will convert the Town's property tax management database to CLT's IAS format and will replace Brookhaven's existing tax assessment management software with the IAS Assessment Administration module. CLT will also convert Brookhaven's system for managing property descriptions to the CAMA module of IAS. The conversion to IAS is expected to reduce by more than 50% the time needed to appraise properties and process more than 2,000 annual assessment appeals. The new IAS system from Tyler's CLT division will also interface the new MUNIS Tax Collection system that Brookhaven purchased from Tyler last year.
Officials from the Town of Brookhaven conducted a thorough national evaluation of property tax systems, including site visits to customers of several vendors, and found that Tyler's IAS software was the clear winner in the competition. Tyler's strong presence in New York and Long Island, together with the interface with Tyler's MUNIS financial software, helped distance IAS from the competition.
In Henry County, CLT will deliver an integrated property tax software solution for the offices of the County Assessor, Auditor and Treasurer. Installation of the system is expected to be completed in the first quarter of 2003. Located in east central Indiana, Henry County has a population of approximately 48,000 and includes the city of New Castle. Henry County chose CLT's IAS solution after a lengthy evaluation process. "We are very pleased to have Henry County as an IAS software client," said Tony Henderson, Assistant Vice President of Marketing of Tyler's CLT division. "This culminates a major effort by CLT and the County's officials to move Henry County forward with new property tax technology."
Henry County's long relationship with Tyler's CLT division for property tax assessment outsourcing services played a major role in their selection of CLT to provide new software. "Our county has had the opportunity to work with CLT for the past three reassessments," commented Henry County Assessor Jodie Brown. "They have shown great dedication in their work and have always cooperated with the County. We chose their software because of its versatility and user-friendliness."
Henry County Treasurer Pat French remarked, "In this age of hype and hard-to-keep promises, I felt confident that CLT would deliver the 21st century software that Henry County needs at the best value. I've seen their software system work and am impressed with the details, efficiency and ease of the entire process. More importantly, CLT is an organization that is dedicated to their customers, with a reputation for prompt resolution of technical issues." Added Linda Winchester, Henry County Auditor, "IAS had more functionality to offer each department that will use the system."
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, CLT has provided appraisal outsourcing services and property tax administration software to over 1,200 assessing jurisdictions in the United States and Canada. Now in its fourth major release, IAS has been selected by more than 70 jurisdictions in 24 states and one Canadian province. These jurisdictions include a total population of more than 17 million, with over nine million parcels and more than one million personal property accounts.
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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Oct 01, 2002 |
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