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TYLER TECHNOLOGIES, INC.

(TYL)
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Tyler Technologies : Cobb County, Georgia, Selects Tyler Technologies for Commercial Privatization Appraisal Project

05/04/2021 | 09:19am EDT

County will also use Assessment Connect to better visualize property data

Tyler Technologies, Inc. (NYSE: TYL) announced today it has signed a five-year, $7.8 million agreement with the Cobb County Board of Tax Assessors in Georgia for Tyler’s CLT Appraisal Services and Assessment Connect solution. Tyler will be responsible for all phases of commercial property valuation in Cobb County, in addition to the implementation of Assessment Connect, a solution built on Tyler’s Socrata® open data platform that provides assessing offices with data access and analysis tools to help ensure fair and equitable property valuations.

As a long-standing client of Tyler, Cobb County already uses Tyler’s appraisal services to assist with residential property inspections and uses Tyler’s iasWorld® appraisal and tax administration software to manage assessment data. Tyler responded to Cobb County’s RFP for its commercial privatization appraisal project and was selected by the board of tax assessors.

“We are pleased to continue our great relationship with Tyler for this commercial privatization appraisal project,” said Stephen White, director and chief appraiser for Cobb County Tax Assessors. “We look forward to continuing work with Tyler to maintain fair market values for the county’s commercial properties, bringing equity to property owners. The addition of Assessment Connect will allow us to have an additional tool that will assist us in our valuation of many of the unique and complex properties in Cobb County.”

Tyler manages the valuation of all 13,800 commercial properties in Cobb County, representing more than $30 billion in value. The appraisal project also includes exempt properties such as schools, courthouses, utility, and other public buildings. Tyler’s dedicated team of 20 staff members support both the residential and commercial efforts. For residential, staff will conduct onsite data collection and verification of each property in the county; and for commercial properties, they will work to establish assessments based on the fair market value. Tyler will also manage the commercial appeals process with Cobb County once values are established.

Cobb County will also be using Tyler’s Assessment Connect solution – the first in Georgia to use this data solution. The county will be able to visualize data from its iasWorld solution to help identify trends in both residential and commercial properties. Assessment Connect will provide county assessors with real-time data and insights into appraisals, appeals, and property development efforts.

“We’ve been able to improve the appraisal process for Cobb County through prior property assessment projects, and we’re pleased to have the opportunity to continue doing so for the county’s commercial properties,” said Jake Wilson, senior vice president and general manager of appraisal services for Tyler. “We’re equally excited to introduce Assessment Connect to our first county in Georgia. We believe it will bring valuable insights around property trends to Cobb County immediately upon implementation and for many years to come.”

Cobb County is located in the Atlanta metropolitan area. It has a population of roughly 760,000, making it Georgia’s third most-populous county. Tyler also provides its EnerGov civic services solution to the county and its Munis® enterprise resource planning solution to Cobb County School District. In addition to Cobb County, Tyler also currently provides appraisal services to the counties of DeKalb, Fulton, Gwinnett, and Clayton in the Atlanta area.

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 27,000 successful installations across more than 11,000 sites, 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.


ę Business Wire 2021
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Financials (USD)
Sales 2021 1 524 M - -
Net income 2021 166 M - -
Net cash 2021 965 M - -
P/E ratio 2021 114x
Yield 2021 -
Capitalization 17 934 M 17 934 M -
EV / Sales 2021 11,1x
EV / Sales 2022 9,13x
Nbr of Employees 5 579
Free-Float 83,4%
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Number of Analysts 15
Average target price 479,59 $
Last Close Price 440,21 $
Spread / Highest target 19,3%
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NameTitle
H. Lynn Moore President, Chief Executive Officer & Director
Brian K. Miller Chief Financial Officer, Treasurer & EVP
John S. Marr Executive Chairman
Matthew B. Bieri Chief Information Officer
Jeff Green Chief Technology Officer
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