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Tyler Technologies to Conduct Property Reassessment for State of Delaware
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Tyler Technologies (NYSE: TYL) has signed agreements worth $27 million with New Castle, Kent, and Sussex Counties in Delaware for appraisal services related to property tax system reassessments. These counties are mandated to restore equity in their property tax assessments. Tyler will provide its Appraisal Services and the iasWorld CAMA software to enhance the counties' capabilities. With over 80 years of industry experience, Tyler aims to deliver fair and equitable taxation, fulfilling essential government mandates.
Positive
Secured $27 million in agreements for property tax appraisal services.
Selected for expertise in mass appraisal by all three Delaware counties.
Enhanced product offerings with the iasWorld CAMA software.
Established reputation with over 80 years in the appraisal market.
Negative
None.
Tyler to help reestablish equity to state’s property tax systems
PLANO, Texas--(BUSINESS WIRE)--
Tyler Technologies, Inc. (NYSE: TYL) announced today it has signed agreements valued at $27 million with New Castle County, Kent County, and Sussex County, Delaware, to provide its Appraisal Services™ for the counties’ upcoming reassessment projects. In addition, New Castle County has selected Tyler’s iasWorld® computer-assisted mass appraisal (CAMA) software.
All three counties, which comprise the entire state of Delaware, were ordered to conduct reassessments to restore equity to all three counties’ property tax systems. Each county searched for the best company to execute the appraisal, and all three selected Tyler for its expertise and proven track record.
“We are pleased to undertake these important reassessment projects for the state of Delaware,” said Jake Wilson, senior vice president and general manager of appraisal services for Tyler. “With our decades of experience, we will ensure we are helping these counties bring fair and equitable taxation to its residents.”
Tyler will provide its Appraisal Services to conduct a complete reappraisal for all properties in each county. Bringing more than 80 years of in-depth industry experience to mass appraisal, Tyler's specialists will physically inspect, collect data, and capture images on all types of properties to produce customized mass appraisal reports. Tyler follows a thorough process for residential field data collection, using field personnel to inspect residential properties and note unique characteristics of each parcel; this informs the overall parcel valuation. Similarly, Tyler will perform a commercial and industrial field data collection to gather property characteristics such as address, land uses, business name, building size, and condition.
In addition to the reappraisal, Tyler will also provide its iasWorld CAMA solution to New Castle County. The county currently has an out-of-date CAMA system that will be replaced with Tyler’s solution. Tyler's iasWorld solution will help the county manage every step of the property appraisal process while also optimizing daily operations, managing and analyzing assessment data, and helping to generate fair, equitable, and defendable property valuations. Sussex County also currently uses Tyler’s iasWorld CAMA solution, and Kent County is actively evaluating a proposal to convert its current mass appraisal system to iasWorld as well.
Tyler's Appraisal Services is the nation’s most established mass appraisal solution and has been used to appraise nearly 35 million parcels of residential, agricultural, commercial, and industrial properties.
The state of Delaware has a population of nearly 990,000. Its state capital is Dover, the second-largest city in the state.
About Tyler Technologies, Inc.
Tyler Technologies (NYSE: TYL) provides integrated software and technology services to the public sector. Tyler's end-to-end solutions empower local, state, and federal government entities to operate more efficiently and connect more transparently with their constituents and with each other. By connecting data and processes across disparate systems, Tyler's solutions are transforming how clients gain actionable insights that solve problems in their communities. Tyler has more than 37,000 successful installations across more than 12,000 locations, with clients in all 50 states, Canada, the Caribbean, Australia, and other international locations. Tyler has been named to Government Technology's GovTech 100 list five times and has been recognized three times on Forbes' "Most Innovative Growth Companies" list. More information about Tyler Technologies, an S&P 500 company headquartered in Plano, Texas, can be found at tylertech.com.
