TYLER TECHNOLOGIES TO PROVIDE RESIDENTIAL APPRAISAL SERVICES TO COBB COUNTY, GEORGIA
$3.5 Million Contract Adds Residential Data Collection Services to Commercial Division Operation
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Dallas, January 20, 2004 -- Tyler Technologies, Inc. (NYSE: TYL) announced today that its Cole Layer Trumble (CLT) unit has been selected by Cobb County, Georgia to provide appraisal services for its residential properties. Tyler has signed a $3.5 million contract to provide data collection, data entry, and digital image gathering services for up to 200,000 residential parcels in Cobb County. The contract covers a three-year period, with the project scheduled to begin in January 2004.
Cobb County is situated in the Piedmont Plateau of north central Georgia and includes the city of Marietta, which is the county seat and a suburb of Atlanta. The county has a population of over 650,000 and is considered to be one of the fastest growing counties in the nation.
Tyler’s CLT division has provided services for Cobb County since 1998, when the county outsourced the commercial section of its Property Tax Division. In managing the commercial and industrial valuation functions, Tyler ensures that the division meets or exceeds the Department of Revenue criteria for acceptability as measured by sales ratios, coefficient of dispersion and price-related differential. Tyler provides expertise in data processing, tracking and quality control procedures, as well as digital imaging, which results in significant efficiencies and savings to the county in time and resources.
The county implemented Tyler’s Integrated Assessment System (IAS) in 1998 to maintain and track building permits, zoning changes, improvements and additions, field activities, and the ongoing digital imaging project. In addition, the IAS software maintains data on properties with special assessments, in Enterprise Zones, and in Community Improvement Districts. The new project will also use the IAS CAMA (computer-assisted mass appraisal) module to process data for residential properties.
Bruce Nagel, President of Tyler’s Property Appraisal and Tax division, said, “This new Cobb County assignment is a further validation of Tyler's strategy to provide our clients with a broad array of property tax administration software and services. In 1998 we were selected to first replace the county's 30-year-old legacy applications in use by the Assessor and Tax Commissioner. We then were asked to provide services relating to the maintenance and valuation of commercial property and now that responsibility has been broadened to include residential property. By demonstrating competence in one area and gaining trust, we are then able to provide needed services in another area.”
"Local governments are being challenged as never before to provide cost effective, accurate and transparent assessment systems to ensure that funding is available for critical government services such as police, fire and emergency services,” continued Mr. Nagel. “We are extremely gratified by Cobb County's trust in us and look forward to a long and mutually beneficial relationship.”
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. More information about Tyler Technologies can be found at www.tylerworks.com.
Tyler’s CLT division is the nation’s largest provider of mass appraisal and property tax software, as well as reassessment outsourcing services. Since its founding in 1938, CLT has provided services and software to over 1,200 assessing jurisdictions.
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, the ability of the Company to successfully integrate acquisitions, 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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Jan 20, 2004 |
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