Tyler Technologies Signs $12 Million Property Reappraisal Agreement with New Orleans
Through its partnership with Tyler Technologies, the parish seeks to standardize appraisal practices across all of its districts. According to Tyler Technologies, the effort also will provide true market value to the parish’s more than 165,000 commercial, industrial, agricultural and residential properties.
“We’re excited to partner with the parish on the first full mass data collection ever completed in New Orleans,” said David Johnson, president of Tyler’s CLT Appraisal Services. “This is a tremendous opportunity for the parish to set a foundation of equitable values and develop a long-term plan to maintain that equity.”
The city of New Orleans and the parish of Orleans operate as a single merged government. Orleans parish is home to numerous smaller communities and maintains many historically separate identities from the well-known city of New Orleans.
New Market Values Expected by Mid-2010
The project consists of two separate phases. In the first phase, Tyler will collect data for all real properties in the parish over a two-year period. In the second phase, Tyler will perform a reappraisal of these properties in which the data previously collected is analyzed and values are calculated.
The company said that it expects to establish new market values by mid-2010, followed by a period of informal reviews in which property owners will have an opportunity to discuss values. Final assessment of property is expected by late 2010.
Despite setbacks caused by Hurricane Katrina in 2005, Tyler noted that the parish continues to shape a reappraisal process that began years before the storm.
“There’s symmetry with the rebuilding process in that it logically makes sense to revalue all the properties,” Johnson said. “It’s admirable that after all the city has gone through, they’re still determined to do this. They haven’t lost sight of their goals.”
