Tyler Technologies Signs $7.2 Million Appraisal Services Agreement with The Commonwealth of the Bahamas
14 May 2019 - 11:17PM
Business Wire
Tyler builds on success in The Bahamas for
additional appraisal project
Tyler Technologies Inc. (NYSE: TYL) announced today that it has
signed an agreement with The Commonwealth of the Bahamas,
Department of Inland Revenue, Real Property Tax Valuation Unit for
data collection and services with Tyler’s CLT Appraisal Services™.
The project, scheduled for completion in early 2021, includes data
collection and entry, as well as valuation services for residential
and commercial parcels.
The Commonwealth of the Bahamas is already a Tyler client,
having selected its iasWorld® appraisal and tax administration
software in 2014. Following an on time and on budget
implementation, The Commonwealth contracted with Tyler for its CLT
Appraisal Services in 2016 to gather street-level images of all
residential and commercial properties on the island of New
Providence, as well as conduct a pilot reappraisal project of 6,600
properties on the island. With the success of these services, Tyler
and The Commonwealth agreed to continue their partnership on a
reappraisal project of the entire island of New Providence.
Tyler will collect and verify property data to bring base values
up to date for fair and equitable taxation. 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.
After the CLT team completes all field work, they will enter
data into Tyler’s iasWorld CAMA™ property assessment software,
which manages all property data and every phase of the property
appraisal process. New values will be reviewed and assigned,
culminating in a modernized Real Property Tax regime.
“We are pleased to be selected once again to provide appraisal
services to The Commonwealth of the Bahamas and bring fair and
equitable taxation to its residents,” said Jake Wilson, vice
president and general manager of appraisal services for Tyler.
“Tyler offers the only national mass appraisal service in the U.S.,
and we’re looking forward to extending that expertise
internationally.”
Tyler's CLT Appraisal Services is the nation's oldest mass
appraisal solution and has been used to appraise nearly 35 million
parcels of residential, agricultural, commercial and industrial
properties. In addition to traditional mass appraisal services,
Tyler offers technology-driven appraisal services using Tyler
Verify™ software, which meets International Association of
Assessing Officers (IAAO) standards for desktop review.
Tyler's CLT Appraisal Services solution has been used in 46 U.S.
states, The Bahamas, British Columbia, Canada, as well as in 26
capital cities. The Bahamas consists of more than 700 islands,
cays, and islets in the Atlantic Ocean and is located north of
Cuba.
About Tyler Technologies,
Inc.
Tyler Technologies (NYSE: TYL) is the largest and most
established provider of integrated software and technology services
focused on 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 21,000 successful installations across 10,000
sites, with clients in all 50 states, Canada, the Caribbean,
Australia, and other international locations. A financially strong
company, Tyler has achieved double-digit revenue growth every
quarter since 2012. It was also named to Forbes’ “Best Midsize
Employers” list in 2018 and recognized twice on its “Most
Innovative Growth Companies” list. More information about Tyler
Technologies, headquartered in Plano, Texas, can be found at
tylertech.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20190514005050/en/
Jennifer KeplerTyler
Technologies972-713-3770Jennifer.Kepler@tylertech.com
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