Tyler Technologies, Inc. announced details on its reassessment work in Delaware that will come with a price tag of $27 million.
The company signed agreements valued with New Castle County, Kent County, and Sussex County to provide its Appraisal Services for the counties’ upcoming reassessment projects. In addition, New Castle County has selected Tyler’s computer-assisted mass appraisal (CAMA) software.
All three counties separately selected Tyler.
With federal money coming in from federal sources, due to the Covid-19 pandemic, counties can absorb the costs from reassessment. However, the federal funds cannot be directly used for reassessment costs.
The three counties reached an assessment agreement after a Chancery Court decision ordered a settlement. It followed a lawsuit filed by several organizations that claimed the lack of reassessments contributed to disparities and a lack of funding for poorer school districts.
Over the years, counties had balked at reassessments, in some cases citing the costs of the process. The counties fought the lawsuit up until the time of the Chancery ruling. Delaware’s lower property taxes have been a drawing card in attracting new residents.
Reassessment, contrary to popular myth, is not a tool to raise revenues. Under the process, a third o” properties see higher property taxes, with a third getting lower taxes and the remainder seeing no change.
“We are pleased to undertake these important reassessment projects for the state of Delaware,” said Jake Wilson, senior vice presidentTyler’sneral manager of appraisal services for Tyler. “With our decades of experience, we will ensure we are helping these counties bring fair and equitable taxation to its residents.”
Tyler will provide its Appraisal Services to conduct a complete reappraisal for all properties in each county. Tyler’s specialists will physically inspect, collect data, and capture images on all types of properties to produce customized mass appraisal reports. Tyler follows a thorough process for residential field data collection, using field personnel to inspect residential properties and note the unique characteristics of each parcel.
Tyler will perform a commercial and industrial field data colleTyler’so gather prTyler’scharacteristics such as an address, land uses, business name, building size, and condition.
In addition to the reappraisal, Tyler will also provide its iasWorld CAMA solution to New Castle County. The county currently has an out-of-date system that will be replaced with Tyler’s solution. Tyler’sTyler’sld solution will help the county manage every step of the property appraisal process while optimizing daily operations, managingTyler’salyzing assessment data, and helping to generate fair, equitable, and defendable property valuations, a release stated.
Sussex County currently uses Tyler’s iasWorld solution, and Kent County is evaluating a proposal to convert its current mass appraisal system to iasWorld.
Tyler’s services have been used to appraise nearly 35 million parcels of residential, agricultural, commercial, and industrial properties.
More information about Tyler Technologies, an S&P 500 company headquartered in Plano, Texas, can be found at tylertech.com.
