The Swartz Report: Happy New Year! An acquisition, good outcomes and looking forward.

Happy New Year!Happy New Year to everyone! I know I say this every year, but I can’t believe how fast this past year has gone. My wife and I have just completed our first semester as empty nesters, and all things considered, I believe we handled it quite well. (In fact, our kids may think we are handling this too well!)

2018 was a good year on many fronts, and I’m extremely pleased to discuss my latest acquisition.

Effective September 17, 2018,  Swartz + Associates, Inc. (SAI) acquired Indurante & Associates, Inc. (Indurante).

I met Pete Indurante a couple of years ago while attending the Mine Expo and over the course of time, we’ve developed a great relationship.  Pete’s company focuses on the business personal property tax liabilities associated with private rail car fleets. For over 40 years, Pete has dedicated his professional life to building this rail car property tax powerhouse. After many discussions, we determined we have a very similar approach to taking care of our clients. Pete, and his wife Kathy, have entrusted me to continue the service and professionalism our clients expect.

Based in Las Vegas, Indurante handles the property tax compliance, assessment review and tax bill verification for a very large percentage of all private rail cars across the country. The office will remain in Las Vegas as well as all employees, who are integral to the continued success of the business. With the expertise in centrally assessed properties associated with rail cars, and our expertise in locally assessed properties, we’re extremely well positioned to represent our clients on many levels. I will write more about the Indurante employees in future postings. Having met, and spent significant time with them over the past several months, I’m so pleased to have these individuals continue to be a part of Indurante. We will continue the seamless transition as we look for ways to improve an already great product.

SAI has finished another very successful year representing clients with their property tax valuation needs.

I’m particularly proud of a few results that required “out-of-the-box” thinking. These  results included a large settlement and refund to a taxpayer that was negotiated in part because the taxpayer agreed to make a donation to the school district where they’re currently located.  Another significant success was establishing a Construction in Progress valuation on a new corporate headquarters, as well as helping establish a valuation on the completed property going forward. These are just two examples of cases where close work and continual dialogue with both the client and the taxing jurisdiction created best case scenarios for governmental entity as well as the client. I am really proud of our diligence and creative thinking that work in everyone’s best interests.

And now on to 2019

Has the real estate market peaked? I think it depends on what you read of late, and with several states scheduled for reassessment (Iowa, Missouri, Colorado), we’re anticipating significant increases in property tax values which may or may not be warranted. Please pay attention to the notices you receive in the spring, as in some situations, this will be your only opportunity to appeal the value. As always, please let me know if we can be of service to you.

Thank you again for being a patron of my blogging.  I appreciate all your comments and especially your loyalty you have shown over the years.  Here’s to a happy and healthy 2019!

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