Tyler Technologies' Cole Layer Trumble Unit Awarded Contracts With Manchester & Keene, NH; Reappraisal and Software Contracts Valued at $1.9 Million |
DALLAS, Jan. 18 /PRNewswire/ -- Dallas-based Tyler Technologies, Inc. (NYSE: TYL) announced today that the cities of Manchester and Keene, NH, have entered into new contracts with Cole Layer Trumble Company (CLT), a Tyler Technologies subsidiary, for real property reappraisal services and software. The combined value of the two contracts is $1.9 million.
In Manchester, the two-year contract is valued at $1.4 million and includes reappraisals for approximately 35,000 parcels of real property. In Keene, the two-year contract is worth $500,000 for the reappraisal of approximately 8,000 parcels of real property and the purchase of CLT's new software.
''Manchester will be the centerpiece of an unprecedented sweep of reappraisal projects in New Hampshire, where concurrent projects are also underway in the cities of Portsmouth, Milford and Plaistow,'' said Paul Flynn, CLT's senior vice president and regional sales manager.
Flynn also pointed out that CLT is also conducting other major New England projects such as Hartford and Greenwich, CT and Lowell, MA.
''Our appraisal project backlog in the northeastern United States is at an all time high and is indicative of a high level of customer satisfaction with our services,'' said Flynn.
The assessment laws in New Hampshire require the cities and towns to maintain assessed values for all property. These assessments are then used by local school districts, cities and townships as the basis for property-based taxes needed to maintain local government and pay for the services they provide. Local property taxes are the largest single source of funding for such essential services as education, emergency services, local roads and infrastructure and local government. Thus, the accurate, up-to-date appraisals CLT will provide are crucial.
In addition to contracting for CLT's mass appraisal services, the City of Keene is also purchasing CLT's Integrated Assessment System (IAS) to maintain the property descriptions and values that will be created as part of the reassessment. The City is also purchasing the IAS Assessment Administration Module to replace old software that did not support modern relational database data storage. In addition, IAS provides for the integration and web- enablement of the City's property tax administration functions.
While IAS has already been purchased by 64 jurisdictions located in 21 other states and Canada, the Keene project represents the first installation of this product in New Hampshire.
''The Keene software installation demonstrates that IAS is a scalable solution for jurisdictions of all sizes and complexities, ranging from the 8,000 parcels in Keene to the more than 1,000,000 parcels being managed with the state-wide installation of IAS for West Virginia,'' added Flynn.
CLT was founded in 1938 and is regarded as the oldest and largest provider of mass appraisal and related property tax software and services in the nation. CLT currently has active projects in more than 30 states and two Canadian provinces. Additional information on CLT can be found on the World Wide Web at www.cltco.com.
Tyler Technologies is a major provider of technology, software, data products, and electronic document management systems and services for local governments and other enterprises. Tyler was founded in 1966 and has its corporate headquarters in Dallas, Texas. Tyler has annualized revenues of more than $140 million and employs approximately 1,400 people. Additional information on Tyler Technologies can be found on the World Wide Web at www.tylertechnologies.com.
Tyler Technologies, Inc., has included forward-looking statements concerning its business and operations in this press release. Although Tyler Technologies believes that the expectations reflected in these forward-looking statements are reasonable, these expectations and the related statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected. 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.
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Jan 18, 2000 |
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