New York City Signs $18 Million Contract with Tyler Technologies for its iasWorld® Assessment Admini
New York City Signs $18 Million Contract with Tyler Technologies for its iasWorld ® Assessment Administration and Integrated Tax Billing & Collection Solution
Tyler chosen for its unique experience and success with large, complex implementations like New York City, which assesses more than 1 million properties annually
DALLAS--(BUSINESS WIRE)-- Tyler Technologies, Inc. (NYS: 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 (NYS: 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.
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