Tyler Technologies Signs $2.3 Million Contract To Continue Appraisal Services For Cobb County, Georgia
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Dallas, November 4, 2004 -- Tyler Technologies, Inc. (NYSE: TYL) announced today that its Cole Layer Trumble (CLT) division has signed a contract valued at $2.3 million to continue to provide commercial property appraisal services to Cobb County, Georgia.
Tyler’s CLT division has provided services for Cobb County since 1998, when the County Board of Assessors outsourced the Commercial Appraisal Division. The County again selected Tyler in 2003 to provide appraisal related services for its residential properties with a $3.8 million contract to provide data collection, data entry, and digital image gathering services for up to 200,000 residential parcels.
With this contract renewal for commercial services, Tyler will continue to provide expertise in data processing, tracking and quality control procedures, and digital imaging, which result in significant efficiencies and savings to the County in time and resources. 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.
Cobb County has also used Tyler’s Integrated Assessment System (IAS) since 1998 to maintain and track building permits, zoning changes, improvements and additions, field activities, and digital images. In addition, IAS maintains data on properties with special assessments, in Enterprise Zones, and in Community Improvement Districts.
Bruce Nagel, president of Tyler’s property appraisal and tax division, said, “Our continuing relationship with Cobb County is a source of great pride. The County has been very aggressive in seeking cost effective ways to equitably manage the property tax, the major source of revenue for local government. That they have again chosen us to manage this important effort further underscores that ’Tyler works‘ is not just a slogan, but a reality.”
Situated in the Piedmont Plateau of north central Georgia, Cobb County includes the city of Marietta, the county seat and a suburb of Atlanta. The county has a population of over 680,000 and is considered to be one of the fastest growing counties in the nation. Cobb’s fiscally conservative government is among the best in the nation as evidenced by its Triple-AAA bond rating, placing it in the top one-half of 1% of counties nationwide.
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.
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, Puerto Rico and the United Kingdom. Tyler was recently named one of the "200 Best Small Companies" in America by Forbes Magazine. 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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Nov 04, 2004 |
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