Tyler Technologies, Inc. (NYSE: TYL) today announced that New York
City's Department of Finance has selected Tyler's iasWorld® property
appraisal and tax administration software to provide the city with a
modernized integrated property tax system (PTS). The contract, valued at
approximately $18.4 million, includes software licenses, implementation
services and support.
Tyler's iasWorld
solution will replace the city's 30-year-old mainframe system, which is
difficult to maintain and inhibits the agency's ability to efficiently
respond to legislative changes and future needs. iasWorld is flexible
enough that the Department of Finance personnel can make simple
configuration and setup changes to meet the vast majority of
legislative-change requirements.
The contract entails the implementation of Tyler's iasWorld Tax Billing
& Collection solution along with multiple added software features,
including iasWorld Inquiry & Appeals Tracking, Public Access and
iasWorld Respond to proactively manage public requests for information.
The city focused on selecting a fully integrated solution composed of
commercial off-the-shelf (COTS) software that could deliver assessment
administration and tax billing and collection within a single
application. It was also vital that the provider had experience with
large, complex jurisdictions like New York City, which has more than 1
million parcels valued at approximately $800 billion.
"Tyler's evergreen philosophy of continually reinvesting in our
solutions, at no additional cost to the client, creates significant
long-term value for New York City. We are delivering a truly
generational appraisal and tax solution that will be flexible and highly
configurable far into the future," said John S. Marr Jr., Tyler's
president and CEO. "Tyler is proud of our high success rate with complex
appraisal and tax implementations, including statewide and
multi-jurisdictional projects. New York City officials heard first-hand
from our clients about Tyler's proven and highly successful
implementation processes."
During the city's thorough review, Tyler demonstrated its deep
expertise, industry best practices and its familiarity with New York
City's special requirements. Tyler also showed how its proven COTS
solution was not only highly flexible and configurable, but that it
already met many of the city's needs - including workflow management -
without customization.
"We are proud to partner with the New York City Department of Finance to
implement a long-term, comprehensive property tax billing and collection
solution that helps enhance accuracy and efficiency while being flexible
enough to fit well-established business processes of the department's
nearly 1,800 employees," said Andrew D. Teed, president of Tyler's
Appraisal & Tax Division. "Tyler has the unique experience to deliver a
solution for New York City's complex needs, and we're looking forward to
working with Commissioner David Frankel and his staff on the successful
implementation of their modern integrated property tax system."
Backed by more than 75 years of experience in the appraisal and tax
software and services industry, Tyler's iasWorld software suite provides
computer-assisted mass appraisal (CAMA) and tax billing and collection
functionality to help jurisdictions address their unique property
assessment, valuation, tax collection and tax administration challenges.
The New York City Department of Finance annually collects approximately
$30 billion in revenue, the majority of which Tyler's iasWorld appraisal
and tax administration software will manage. The Department of Finance
has nearly 1,800 employees and an operating budget of about $230
million; it values more than 1 million properties worth a total of
approximately $800 billion.
New York City is America's most populous city with approximately 8.3
million residents.
About Tyler Technologies, Inc.
Tyler Technologies (NYSE: TYL) is a leading provider of end-to-end
information management solutions and services for local governments.
Tyler partners with clients to empower the public sector - cities,
counties, schools and other government entities - to become more
efficient, more accessible and more responsive to the needs of citizens.
Tyler's client base includes more than 11,000 local government offices
in all 50 states, Canada, the Caribbean, the United Kingdom and other
international locations. Forbes has named Tyler one of "America's Best
Small Companies" five times in the last six years. More information
about Dallas-based Tyler Technologies can be found at www.tylertech.com.
Jetstream PR for Tyler Technologies
Christina Baldwin,
972-788-9456, ext. 302
baldwin@jetstreampr.com