Tyler Technologies signs $7.2M agreement with Commonwealth of the Bahamas
Tyler Technologies announced 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.