Dr. Richard Borst Receives His Award From W.A. Rodda And Randy J. Ripperger From IAAO In Tampa, Florida. (Photo: Business Wire)

Tyler Technologies, Inc. (NYSE: TYL) announced today that Dr. Richard Borst, senior research scientist for Tyler's Appraisal & Tax Division and member of the International Association of Assessing Officers (IAAO) since 1975, has received IAAO's 2016 Distinguished Research and Development Award for his many years of innovative work.

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Dr. Richard Borst receives his award from W.A. Rodda and Randy J. Ripperger from IAAO in Tampa, Flor ...

Dr. Richard Borst receives his award from W.A. Rodda and Randy J. Ripperger from IAAO in Tampa, Florida. (Photo: Business Wire)

The Distinguished Research and Development Award recognizes outstanding original research in property assessment, taxation or mass appraisal techniques. Dr. Borst's book, "Improving Mass Appraisal Valuation Models Using Spatio-Temporal Methods," was published in June 2014 and is the first of its kind to combine mass appraisal modeling with a variety of spatial techniques - including his own technique of time-weighted regression.

Dr. Borst has become an expert in his field with more than 40 years' experience with computer-assisted mass appraisal systems. He served as president of the Cole-Layer-Trumble Company, the founding organization of Tyler's Appraisal & Tax Division, where he has worked since 1974. He has authored many articles about market modeling techniques, served as a market modeling consultant in the U.S. and abroad, and has participated as an expert witness in automated valuation model (AVM) methodology disputes.

"Rich's contributions to our company have been invaluable during his many years with Tyler, and we're pleased to see this recognition from such a well-respected organization," said Mark Hawkins, senior vice president of software operations in Tyler's Appraisal & Tax Division. "We will continue to benefit from Rich's research and trailblazing work in the field of appraisal and tax, as will Tyler clients."

IAAO presented the award to Dr. Borst during IAAO's 82nd Annual International Conference on Assessment Administration, conducted in August 2016 in Tampa, Florida. The IAAO awards recognize outstanding achievements in various areas of the property valuation profession.

Founded in 1934, IAAO sets the standards for best practices in mass appraisal and property tax administration. IAAO currently serves more than 7,000 members globally with the world's premier assessment library, professional designations, leading industry publications and other educational resources.

About Tyler Technologies, Inc.

Tyler Technologies (NYSE: 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 their constituents. Tyler's client base includes more than 14,000 local government offices in all 50 states, Canada, the Caribbean, the United Kingdom and other international locations. In 2016, Forbes ranked Tyler on their "Most Innovative Growth Companies" list, and it has also named Tyler one of "America's Best Small Companies" eight times. The company has been included six times on the Barron's 400 Index, a measure of the most promising companies in America. More information about Tyler Technologies, headquartered in Plano, Texas, can be found at www.tylertech.com.

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