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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