Hillsborough County, Florida, Selects Tyler Technologies’ Appraisal Services to Enable Efficient and Precise Appraisals

Rhea-AI Summary

Tyler Technologies (NYSE: TYL) has secured a four-year agreement with Hillsborough County, Florida, to provide Appraisal Services for commercial and exempt properties. The partnership aims to enhance assessment efficiency and accuracy while generating projected savings of approximately $225,000 annually over the contract period.

The collaboration with Hillsborough County, Florida's fourth-most populous county with 1.5 million residents, will streamline property assessment processes and support effective governance. Tyler Technologies brings over 85 years of experience in appraisal services across nearly all 50 states and 26 state capitals.

Positive

• Secured new four-year contract with Hillsborough County, Florida
• Will generate approximately $225,000 in annual cost savings for the county
• Expands presence in Florida's fourth-largest county with 1.5 million residents

Negative

• None.

Insights

Financial Analyst

Tyler Technologies has secured a four-year agreement with Hillsborough County, Florida for its Appraisal Services - a positive development that reinforces the company's position in the government solutions sector. While the contract's direct revenue impact on Tyler isn't specified, the partnership is expected to generate $225,000 in annual savings for the county over the contract period.

Hillsborough represents a valuable client addition as Florida's fourth-most populous county with approximately 1.5 million residents. This win demonstrates Tyler's continued momentum in securing government contracts and provides predictable recurring revenue - a characteristic investors typically value highly.

This agreement aligns with Tyler's core business model of providing efficiency-enhancing solutions to government entities. The company has leveraged its 85+ years of experience in appraisal services, having conducted assessments in nearly all 50 states and 26 state capitals.

While positive, this single contract is unlikely to meaningfully impact Tyler's overall financial performance given the company's $24.9 billion market capitalization and status as an S&P 500 constituent. Nevertheless, it reinforces Tyler's execution capabilities and expanding government client base, factors that support their long-term growth trajectory in the public sector technology space.

Tyler’s Appraisal Services to streamline county processes and support effective governance

PLANO, Texas--(BUSINESS WIRE)-- Tyler Technologies, Inc. (NYSE: TYL) announced today it has signed a four-year agreement with Hillsborough County, Florida, for Tyler’s Appraisal Services in an effort to provide more efficient assessment services and save taxpayers money.

“This strategic collaboration between the Hillsborough County property appraiser and Tyler is designed to revolutionize the way property assessments are conducted, ensuring taxpayers receive faster, more efficient services while driving down costs,” said Hillsborough County Property Appraiser Bob Henriquez. “This partnership supports the property appraiser’s efforts to ensure effective governance, reduce its budget, and reinvest the savings into other critical public services.”

By working with Tyler, Hillsborough County is setting a new standard for accuracy and quality in its assessments. This partnership is projected to generate significant savings, with an initial forecast of nearly $225,000 annually over a four-year period. Tyler’s Appraisal Services will manage the assessments of commercial and exempt properties in Hillsborough County, and in turn, enhance the precision of the assessment and streamline the county’s processes.

“Tyler brings significant expertise in this area with appraisal services conducted in nearly all 50 states and 26 state capitals for more than 85 years,” said Mark Hawkins, president of Tyler’s Property & Recording Division. “Hillsborough County officials are focused on driving additional efficiency through this effort and this proactive approach to governance will serve its residents through accurate, timely, and seamless appraisal services.”

Hillsborough County is located in the west-central portion of Florida and includes the city of Tampa. It has an approximate population of 1.5 million, making it the fourth-most populous county in Florida.

About Tyler Technologies, Inc.

Tyler Technologies (NYSE: TYL) is a leading provider of integrated software and technology services for the public sector. Tyler’s end-to-end solutions empower local, state, and federal government entities to operate efficiently and transparently with residents and each other. By connecting data and processes across disparate systems, Tyler’s solutions transform how clients turn actionable insights into opportunities and solutions for their communities. Tyler has more than 45,000 successful installations across 13,000 locations, with clients in all 50 states, Canada, the Caribbean, Australia, and other international locations. Tyler has been recognized numerous times for growth and innovation, including on Government Technology’s GovTech 100 list. More information about Tyler Technologies, an S&P 500 company headquartered in Plano, Texas, can be found at tylertech.com.

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View source version on businesswire.com: https://www.businesswire.com/news/home/20250327517741/en/

Jennifer Kepler

Tyler Technologies

972.713.3770

Media.team@tylertech.com

Source: Tyler Technologies

FAQ

How much will Hillsborough County save annually through Tyler Technologies (TYL) appraisal services?

Hillsborough County is projected to save nearly $225,000 annually over the four-year contract period with Tyler Technologies' Appraisal Services.

What types of properties will Tyler Technologies (TYL) assess in Hillsborough County?

Tyler Technologies will manage the assessments of commercial and exempt properties in Hillsborough County, Florida.

How long is the appraisal services contract between Hillsborough County and Tyler Technologies (TYL)?

The agreement between Hillsborough County and Tyler Technologies is for a four-year period.

What is Tyler Technologies' (TYL) experience in providing appraisal services?

Tyler Technologies has provided appraisal services for over 85 years across nearly all 50 states and 26 state capitals.