TYLER TECHNOLOGIES UNIT AWARDED CONTRACT WITH EDS TO PROVIDE PROPERTY VALUATION MODEL SOFTWARE FOR ENGLAND |
Dallas, September 15, 2003 —Tyler Technologies, Inc. (NYSE: TYL) announced today that following more than six months of rigorous testing and evaluation involving 17 companies from around the world, Electronic Data Systems (EDS) has awarded Tyler’s Cole Layer Trumble (CLT) division a contract to deliver an Automated Valuation Model (AVM) to the Valuation Office Agency (VOA) in England, United Kingdom. CLT was selected from a shortlist of five suppliers – two UK-based and three from North America. The amount of the contract, which includes software licenses, support, and professional services, was not disclosed, but the technical effort is expected to exceed 20 man-years.
The model, now moving into the testing stage, is intended for deployment in support of the Council Tax Revaluation, scheduled to come into effect in England in 2007. The Council Tax is similar to the local property tax in the United States. The Valuation Office, together with its technology partner EDS, is gearing up to value over 21 million domestic properties in England and place them in new market value bands for Council Tax. The AVM should deliver a more efficient, consistent set of valuations for standard property types – driving value bandings direct from property attribute data and sales information.
Established in 1938, Tyler’s CLT division has the experience and the expertise in this technology with which few others can compete. CLT has delivered Automated Valuation Models and Computer Aided Mass Appraisal systems to a number of clients across the United States and in Canada, and will now join forces with EDS and the Valuation Office to develop a solution focused on the specific requirements of the English market.
“We are delighted to have CLT confirmed as a key technology partner,” said Diane Leggo, the VOA’s Director of Council Tax. “The company is arguably the most experienced supplier in this market in the world, and with the VOA’s depth of knowledge and understanding of the English property market, I believe we have all the core competencies in place, critical in a project of this size and scope. If the VOA decides to implement the AVM to support the next Council Tax revaluation – after we complete another twelve months of thorough testing using live data – we will need to be totally confident that we have a robust solution and a sound relationship for the long-term future.”
Bruce Nagel, President of Tyler’s CLT division, said, “For many years, we have demonstrated our ability to expand our long-term relationships with those entities responsible for the administration of the property tax in the United States and Canada. Tyler Technologies is committed to a growth strategy that includes geographic expansion as a key element, and this agreement sets the stage for international growth.
“Should the Valuation Office proceed with the Automated Valuation Model for the English Council Tax Revaluation, it is believed that it will be the single largest implementation of AVM technology worldwide,” added Mr. Nagel.
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 throughout all 50 states, Canada and Puerto Rico. More information about Tyler Technologies can be found on the World Wide Web at www.tylerworks.com.
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.
For further information, contact:
- Brian Miller (972-713-3720) of Tyler Technologies, Inc.
- Rich Borst (610-738-3948) of the Cole Layer Trumble division of Tyler Technologies
- Diane Chadwick (+44 (0) 19 5229 6205) of EDS
- Roger Charles (+44 (0) 20 7506 1927) of The Valuation Office Agency
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Sep 16, 2003 |
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