The Swartz Report: Planning Meetings!

By Donald Swartz, President

The Swartz Report: Planning Meetings!Recently, we completed our annual fall planning meetings for both Swartz + Associates, Inc. and Indurante & Associates, Inc. I always look forward to these meetings as we look back on the successes (and challenges) over the past year and what we can do to continue to make a difference for our clients and operate as successful companies.

Resolving Appeals

2024 has been challenging in ways I have not experienced in most of my working career. While our pipeline is full and caseload is significant, the ability to resolve appeals from prior years, some dating back to 2020, remains tricky. Many of the appeals are backlogged at the respective State courts as hearing officers and judges are playing catch up from the pandemic. As the courts shut down for several months and/or years, the cases to be heard lay in waiting. It is difficult to discuss a 2023 or 2024 case when the jurisdiction is stilling trying to work through appeals in years prior.

Luckily, our clients are patient and understand the “long game” that has become necessary in an effort to achieve success.

Our employees with each company understand this and I am very appreciative of their patience as well. With this backdrop, our meetings were candid, engaging and as usual, a few excellent ideas were developed. It will be up to all of us to implement the strategies discussed and I am as excited as ever for the upcoming year.

Reimagining Existing Ideas and Plans

Jason Terry - Blue GurusWhile we always want to grow our business, sometimes reimagining existing ideas and plans can be our most effective tool. Jason Terry, the “guru” of Blue Gurus led Swartz + Associates in a detailed two hour discussion of how to expertly manage and efficiently use data we already have in our possession; how to implement the tools we have in our possession to make us better and how to expand our reach.

In Las Vegas, the conversations were similar to what I described above and additionally, continue to find ways to efficiently handle the amount of data we collect on an annual basis from our clients.

As with most companies, change is a constant.

We will be without two employees as of year-end who have been with our respective companies for several years. They will be difficult to replace, but I am excited to present these opportunities to a new skill set with fresh ideas, fresh eyes and a fresh beginning. All of our managers and directors remain in place and are enthusiastically accepting the challenge of “what’s next?” What’s next in terms of employees, what’s next in our pursuit of clients, what’s next in succeeding for our clients and what’s next in our world of technology.

I am very excited to see what’s next for Swartz and Indurante and cannot wait to share our stories for the 2025 year.
Don

The Swartz Report: “LIVE, AND IN PERSON”

By Donald Swartz, President

As you may have read in an earlier posting on LinkedIn, David Swartz, Keith Sherman and I recently attended the 25th anniversary conference of TOMA (Theatre Owners of Mid-America). I was fortunate to be asked to participate in a panel discussion during the conference, and was very pleased to be a part of this. Along with Jason Roos, of Valbridge Property Advisors and Alicia Grant, legal counsel with Norton Rose Fulbright, we covered the topic of property taxes (both real estate and business personal property) and the nuances associated with the valuation of theaters.

Having worked with both Jason and Alicia on property tax matters, I felt a comfort level and ease of “back and forth” that you don’t always see in panel discussions. They made this very easy and with our moderator, Mike Hagan of B&B Theatres leading the discussion, I’ve never had an hour move so quickly talking about property taxes. 😊

More importantly, the conference reinforced my belief in the value of meeting with people face to face.

While we have become comfortable with Teams, Zoom, Google Meet and others, there is no substitute for personal interaction. The side bars after presentations; the casual conversations in the halls before the next session; cocktail receptions and evening activities… These simply cannot be replicated on virtual platforms. I am still a big fan of virtual meetings as we conduct at least two each week between my Swartz office and the Indurante team. “Seeing” everyone is much better than the conference calls I was initially introduced to in the 1980s and 90s. Technology has made the world a much smaller place, but the opportunity for live, in-person interaction is the best.

Hopefully, we will have the opportunity to prove this interaction as David and Keith will be attending a Tax Summit this November in Orlando. Presented by Marcus Evans, we will be one of approximately 30 vendors scheduled to have 1:1 in person meetings with at least 12 companies interested in learning more about our business and the world of property taxes. This is a major step outside of my comfort zone, and I am excited to see the benefits. (You may be reading about this in my November or December blog post!)

As we get ready for the last quarter of the year, we are already preparing for 2025.

The Swartz Report: “LIVE, AND IN PERSON”Our Swartz planning meeting will take place in Kansas City in Mid-October, followed by our Indurante planning meeting the next week in Las Vegas. This allows us the opportunity to openly discuss what went right, what needs improvement and how we may continue to be efficient and responsive to our existing and prospective clients. I always look forward to these meetings, as I know opinions and suggestions are free flowing.

Throw in meaningful fall baseball with the Royals and I just don’t know what to do with myself! Believe me, I will try to figure it out…

As always, I appreciate your comments and feedback. Please reach me at or

Happy Fall to everyone!

The Swartz Report: The Only Constant in Life is Change

The Swartz Report: The Only Constant in Life is ChangeBy Donald Swartz, President

According to the Greek philosopher Heraclitus of Ephesus, “the only constant in life is change”, or at least something to that effect! And so it goes…

David Sukenik

After several years with David Sukenik being a member of the Swartz & Associates team, David bids us a fond farewell to explore the next chapter in his life in a new and unrelated industry. I am fortunate to have had David as a part of SAI since his graduation from the University of Kansas, and am very aware of the fact that few college graduates stay in their first job for almost eight years. We are appreciative of his energy, work ethic, ability to work with clients as well as fellow employees and his desire to continually learn and enhance his skills. I am sure he will do quite well in his next endeavor and all of us wish him the best of luck moving forward.

DMH Advertising

Over the past several months, we have been working with DMH Advertising to give the Indurante company an updated look and feel; blending the colors and look of Swartz (also, thank you, DMH!) into Indurante. While these are two separate companies, the synergies being created over the past years are becoming noticeable, and provide us with another “change” in the constant of life. Thank you to Sean Hogan and the advertising group at DMH for all their assistance in making this happen. We will begin to roll this out in the upcoming months but here is a quick peek.

Indurante Logo

The Children’s Place

If you are a follower of my wife and kids on Facebook (as I am not particularly active, more of a peruser…) you may have seen prior posts about our family’s involvement with (and support of) the incredible work of The Children’s Place. Karen and I are thrilled to be helping further the mission of the organization as #tastemakers at this year’s #tasteattheplace. We’d be honored if you would consider making a donation to help us support the work of this incredibly important organization! Below, I have included two links: one to the event as well as our personal donation page. Your consideration is greatly appreciated!

It’s Been Five Years

I would be remiss if I did not mention the 5-year anniversary of my unfortunate accident in Las Vegas, while heading to my Indurante office. In many respects, it seems like yesterday, but for the most part, the time has passed, and we continue to move forward. As part of the “celebration” (mostly coincidental and not intentional), Karen and I were back in LV this past weekend, having a great dinner with my close friend, Joel (who was with me in LV when I woke up in the hospital after the incident) and his wife Robin. I will never be able to fully express my gratitude for the love and support given to me by my wife, my family, Joel and all the people who checked in during the recovery. Know that you are all appreciated, and I am lucky to have you in my life.

With that, let’s get back to the exciting world of property taxes. What do you say???

The Swartz Report: Celebrating 10 Years!

By Donald Swartz, President

Celebrating 10 Years!If you are a user of LinkedIn, you may have seen the pop up messages, “Congratulate Don Swartz on ten years at Swartz & Associates” or something to that effect. LinkedIn stole my thunder, as I wanted to make the big announcement, but I guess I needed to post this BEFORE June 1st 😊

So many thoughts racing through my head over the past few months; I swear it seems like yesterday when I invited friends, who I greatly respected for their work in the business community and as business owners, to create an Advisory Board for my new company, Swartz & Associates. I remain friends with all of them today and will be ramping up the Advisory Board to help navigate the next ten years.

I was convinced we could survive and thrive, but to believe I would have 14 employees today across two companies; an established presence in the Kansas City area, Las Vegas, Iowa, Southern California and most recently, Texas??? Not a chance.

The Swartz + Associates Team
The Swartz + Associates Team

Celebrating the highs and lows.

But here we are celebrating the highs and also tempered and saddened by the lows.

Even as a small company, we are not immune to end of life sorrow that has touched employees and employee’s families. We have had more than our fair share of grieving these past years including this past week, yet everyone remains resilient and connected. I am very proud of the group we have put together representing Swartz + Associates and Indurante. They are dedicated to our work, dedicated to our clients and dedicated to making sure the next ten years will be even better than the previous.

This is my opportunity to thank them openly for their efforts. We would not be celebrating if not for them and their commitments – they truly inspire me.

The Indurante Team

The Indurante Team

Everyone has an important role.

My goal is to continue to make these companies an environment where everyone feels they have a role and plays a part in our success. No one is too big and certainly, no one is too small. Everyone is a difference maker, even when they don’t realize the impact they’re making on others. Often, I lose sight of this, but I promise to keep trying.

I also promise to continue to communicate with not only our clients, but the jurisdictions we work with throughout the year. The greatest compliments we receive are generated from various counties and or state taxing authorities who never question the integrity of our work. I hope our clients feel the same way. If not, I want to know – I will continue to make myself accessible via phone or email.

I will soon be approaching my 39th year in the industry, and I’m as excited about work today as I’ve ever been.

Thank you to our clients, our friends, the community at large
and most importantly my staff that makes this all happen.

As always, please let me know your thoughts – or .

David, Keith and Don Swartz

David, Keith and Don Swartz

The Swartz Report: CinemaCon 2024 – A Property Tax Perspective

Last month, you may recall I discussed the power of AI in the workplace and the seminars David Sukenik from our office was attending. As a result of the four courses he virtually participated in, we are now subscribers of ChatGPT4. Many thanks to Dean Bezdek and Centriq Group, LLC for setting up this course. (To learn more about Centriq Group, LLC and their offerings, please visit their website.)

Speaking of Technology…

We recently upgraded our copier and I was playing around with all the new, fancy features. While standing at the copier, I discussed ChatGPT4 with David and what my blog this month would sound like if it was created by ChatGPT – take a read 😊

CinemaCon 2024: Insights and Trends from the Heart of Las Vegas – A Property Tax Perspective

The Swartz Report: CinemaCon 2024 – A Property Tax PerspectiveLast week, I had the privilege of attending CinemaCon 2024, held at the iconic Caesars Palace in Las Vegas. This pivotal event in the cinema industry is not just a gathering for film aficionados but also a critical touchpoint for professionals like myself who specialize in property tax issues related to cinema properties. Joined by my good friend Mike Hagan, CFO of B&B Theaters, we sought to deepen our connections with cinema owners and gain insights into the future of the industry, crucial for our property tax advocacy efforts.

Leveraging Connections for Enhanced Property Tax Solutions

Our longstanding relationship with B&B Theaters, for whom we have conducted numerous property tax appeals, positioned us uniquely to engage with other industry stakeholders. CinemaCon offers an invaluable platform for sharing experiences and challenges related to property tax management within the cinema industry. The discussions we had were insightful, highlighting shared concerns and innovative solutions that can be applied across various jurisdictions.

Impact of Industry Trends on Property Valuations

Several key trends identified at CinemaCon have direct implications for property tax considerations:

  1. Technological Upgrades: As cinemas invest in advanced technologies like laser projectors and state-of-the-art sound systems, the valuation of these properties becomes more complex. These enhancements can increase a property’s assessed value, necessitating astute tax strategies to manage potential increases in property tax obligations.
  2. Reimagining Spaces: The shift towards providing luxurious seating and comprehensive amenities requires significant capital investment. These improvements can affect property assessments and, consequently, property taxes. Understanding these changes is essential for accurately appealing tax valuations and ensuring fairness in taxation.
  3. Diversity in Content and Format: The trend towards offering a wider array of content, including live events and special screenings, can alter a theater’s revenue streams and impact its financial valuation. This diversification, while beneficial for attracting a broader audience, also adds layers of complexity to the valuation process for tax purposes.

The Future Outlook from a Tax Perspective

The optimism about the future of the movie industry, despite competition from streaming platforms, suggests a robust potential for continued investment in cinema properties. This growth outlook necessitates ongoing vigilance in property tax management to ensure that assessments are fair and reflective of true market values. It’s an exciting time for those of us in property tax services, as we align our strategies to support our clients through these evolving challenges.

Conclusion

Attending CinemaCon 2024 provided us not only with insights into the trends shaping the movie theater industry but also reinforced the importance of our work in property tax services. For clients like B&B Theaters and others in the cinema space, staying ahead of these trends means better preparing for the future financial landscapes and tax obligations. The insights garnered from this event will directly enhance our ability to advise and represent our clients effectively.

As the industry continues to evolve, so too will the strategies needed to manage property tax implications.  We look forward to using these insights to assist our clients in navigating the exciting future of the movie theater industry.

WOW, right????

While this is not necessarily the wording I would traditionally use in my blog, I thought I would provide an unedited version generated in literally, seconds.

So, how do we embrace this technology to our benefit? Stay tuned as you will have to determine if this is me OR if this is AI going forward.
HINT: Betting money says ME.

As always, I appreciate your feedback and comments.  or .

The Swartz Report: Artificial Intelligence in the Workplace

By Donald Swartz, President

Earlier this month I posted an interview involving David Swartz and the review/appeal of commercial real estate valuations in Iowa. I have posted the introduction and podcast below –

For the interview you’ll meet David Swartz who, along with his brother, operates Swartz and Associates. Their skill is to successfully appeal commercial property tax assessments and their record for winning is pretty amazing. How and why? We asked and David answered. To hear that conversation click the link below:

Podcast: Help Challenging Commercial Property Taxes? Meet David Swartz

AI in the Workplace

The Swartz Report: Artificial Intelligence in the WorkplaceLast week, David Sukenik virtually attended his first of four sessions concerning the use and power of AI in the workplace. Earlier this year, I tinkered around with ChatGPT to craft a letter to prospects as well as enhancing various job descriptions.

As I enter my 38th year in the review of property tax assessments, it is truly amazing how the use of technology has changed how we work. Podcasts? Hubspot? AI, ChatGPT? Better late than never!

So, What’s next?

I’ve realized being resistant to change is not a viable strategy. We cannot allow ourselves to be set in our ways; to do things the way “we have always done them” or discount ideas because they have never been attempted before.

I have mentioned to my employees my role in the coming years is to focus on strategic thinking. I believe I’ve been better about delegating various day-to-day responsibilities (although you would probably have to ask my team members to get their opinions on this 😊). I know I have a long way to go but have confidence in everyone and their abilities to best represent our clients in the review of valuations across all spectrums – business personal property, fixed asset valuations, commercial real estate, private rail cars and yes, residential valuations (as warranted).

Removing myself from these day-to-day activities will allow me to continue to move the Indurante and Swartz businesses forward, ensuring our employees have the opportunity to develop their careers with the companies. Bringing an internal business developer into the mix was a concern of mine for many years. When the right opportunity presented itself, we made the decision to move forward. The success has been so notable that we added another business developer into a new market.

Back to AI…

While the above team updates are not examples of new technology, the changes do represent risk, the ability to adapt and the results we can achieve when we embrace change. In my opinion, the use of AI is the next great tool to enhance our business and the way we handle our work and processes. Instead of fearing what AI may take away, I would like to embrace AI technology and see how it helps us grow.

And yes, the featured image for this blog post was generated by MidJourney, an AI that specializes in image creation.

Though I definitely do not plan to spend the next 38 years redefining and growing the business, please know I have a few ideas that I would like to see happen in the next 5-10 years. I have never been more excited to embrace the future. I look forward to sharing this continued journey with you!

As always, I appreciate your feedback and comments.  or .

The Swartz Report: Conferences, Commercial Property Valuation Dates and More!

The Swartz Report: Conferences, Commercial Property Valuation Dates and More!Railroad Equipment Finance Conference

Last year, Noelle Giacomino and I attended our first Railroad Equipment Finance conference.  As I noted last year, I was pleasantly surprised by the number of existing clients attending the conference and our chance to interact with many of them face to face. We will again be attending the conference and hopefully, we will not be making the “rookie” mistakes in our second year.

What sort of rookie mistakes could one make??? When attending a conference, I have learned it is always a good idea to review the attendee listing as far in advance as possible. This allows us to reach out to our clients or prospects; let them know we will be there and try to establish a plan to connect at the social events each evening or meet for lunch or dinner if possible.

Many we met last year had already committed to several evenings and with a little planning, we could have made better use of our evenings as well. It was still a great conference and we connected with many, but our hope this year is to make the event even better for connecting with friends, clients and prospects.

International Association of Defense Counsel Conference

This has been particularly true as I attend my wife’s Mid-Year Conference for the IADC (International Association of Defense Counsel). We have been attending this conference on and off for the past 20 years. When we review the listing of attendees and participate in the planned dinners and social networking events, it is always great to see familiar faces and catch up on life’s activities.

One can never underestimate the effect these social aspects have on your professional life. Being a spouse at these events has allowed me to meet legal counsel from all over the country; several of which I have engaged over the years to assist in significant property tax appeals. Having local legal counsel has, in most cases, defined our success with our clients.

Enough of the socializing – there is work to do!

Johnson County, KS released their 2024 valuations for commercial property with an appeal deadline of March 13th. Many values have remained flat or decreased slightly from the 2023 tax year. The question for many is whether this is accurately representing the marketplace. Many industries are still suffering from high vacancy issues and possible repurposing of the property.

How does this affect market value? It is a worthy question, but it is difficult to justify the current valuation in many cases.

We are knee deep in assisting/filing of business personal property declaration in many states, starting with MI filings due by February 20th to AR filings due at the end of May. Additionally, we are receiving our data for our annual railcar property tax filings and business will be at a peak from now until May 15th.

Let’s not forget what is truly important –

Finally, I want to take this opportunity to express my sincere sympathies to the victims of the senseless violence in the midst of a wonderful Kansas City celebration for the Chiefs Super Bowl victory. If you are inclined and wish to donate, please consider the following funds to support the families by visiting the following GoFundMe link:

https://www.gofundme.com/c/act/kansas-city-parade-help

Thank you for your continued support of Swartz and Indurante – let’s help support those in need.

As always, you can reach me at or . Thank you for reading! I would love to hear from you in the comments.

The Swartz Report: Introducing Keith Sherman

By Donald Swartz, President

Keith ShermanIn a previous blog, I mentioned the statement, “If you’re not moving forward, you are moving backward.

In the spirit of moving forward, I am very excited to announce the hiring of Keith Sherman to our Swartz & Associates, Inc. Team (SAI). Keith provides a local presence to our expanding SAI footprint in the state of TX and its bordering states. Prior to joining SAI, Keith spent 35+ years as a marketing/advertising executive across diverse industries including Real Estate, Manufacturing, Retail, Consumer Packaged Goods, Quick Service Restaurants, Travel and Tourism, Multi-Unit Franchise, Non-Profit, Telecommunications and more.

More importantly, Keith is a fellow Hawkeye and a big sports fan – can you tell if we have any similarities? 😊
I have known Keith for a long time, and we believe this is a great opportunity for both of us as we begin the process of expanding our presence in the Texas market.

Hoping to build on the success David Swartz brought to SAI this past year, Keith will offer the same attributes and business acumen to our company in his role of business development. Keith and David will be working together in the exchange of ideas and making sure SAI remains a relevant player in the review of property tax assessments.  My promise to them (and our clients) is that we will continue to provide excellent analysis, review and appeals experience with our staff and strategic partners. For the past 37 years, I have worked to earn our client’s trust, and I believe this is a major reason Keith decided to join the company.

Please join me in welcoming Keith to the SAI team. You may learn more Keith on our website and may reach him directly at .

In Other News

Although this is an “off year” in the re-assessment cycle for many states we handle properties (IA, MO, CO, etc.) there are many taxpayers who may have missed the deadline to appeal their respective valuations in 2023. In most situations, there will still be an opportunity to appeal these values for the 2024 tax year and at least attempt to ease your property tax burden until the 2025 re-assessment.

We’ve hardly finished with 2023 and I’m already discussing 2025??? Yes, indeed! As the real estate market continues to weave and bob, we are constantly assessing (no pun intended) the factors affecting real estate values and believe opportunities will continue to avail themselves in the current and upcoming valuations.

As always, I appreciate your commitment to reading my blogs – any and all feedback is greatly appreciated. You can reach me at or .

The Swartz Report: 100 Blog Posts!!!

By Donald Swartz, President

The Swartz Report: 100 Blog Posts!!! Well… we made it! This blog represents my 100th posting since becoming convinced to share anecdotes with you eight plus years ago by my friend and LinkedIn training wizard, Jason Terry. It took me a little over one year since the start of Swartz & Associates to dip my toes in the “blogging waters” but I am so pleased I’ve made the effort to share successes, thoughts, physical struggles, COVID struggles, road trips, adventures, and anything else to let you peek into a little of my life.

What a journey and what a joy!

I hope to continue to share my thoughts with you in the coming years and know when I think I need to “zig”, I will probably do a little bit of “zag”; when I become a little too business centric, time for a personal story; when I share successes, I will be cognizant of the challenges we continually face. Most importantly, I want you to read our stories because you enjoy the content and find them meaningful to you in some way. I am very appreciative of your comments and responses and have attempted to be informative (and a little entertaining??) these past years.

End of Year

As we wind down the year, I want to thank our clients for continually letting us represent your interests in the property tax world. Whether it is commercial real estate, business equipment or private railcars, I am constantly reminded how great my respective team members are in providing excellent service for you. The staff of Indurante and Swartz are unmatched in the level of experience, professionalism, and dedication to your holdings, and I take great pleasure in seeing them be successful.

2023 has been a tremendous year for both entities, and with the pipeline filling with ongoing appeals and new clients slated to come on board in 2024, I am very excited to share more successes (fingers crossed) throughout the year.

We can always be better

As they say, if you are not moving forward, you are moving backward. I will continue to strategically look at the big picture to determine what technology components can enhance our services. Will our employee base continue to grow, and will we expand into additional markets??? If the right opportunity presents itself, we cannot be afraid to explore options.

Don and David SwartzAdding David Swartz to the group was a strategic development that has paid off handsomely for us and our clients.  Adding Micah Niimoto to our Indurante team full time has given our employees a fresh way to look at the way we prepare and analyze.

Are there risks? Absolutely, but I would like to think they are calculated, and when weighing risk vs. reward, I would not hesitate to do the same again and again.

Happy holidays and Happy New Year to everyone!

We look forward to an outstanding 2024 and, as always, if you are interested in learning more about us, please reach out to me ( / ) or any of staff. We are here to help!

The Swartz Report: Interesting question… Are we the best?

Interesting question... Are we the best?By Donald Swartz, President

Recently, I met with a prospective client to discuss the aspects of handling their real estate portfolio. After engaging in the history of our company and listing of some of our clients who have similar portfolios, the prospect asked this follow up question, “Yes, but are you the best?”

The question caught me a little off guard, but only because it was posed as part of general conversation. It was not the “final question” or the climactic question to a series of questions. Rather more in line with, “how is your coffee?”

So, what is the answer?

Interesting question... Are we the best?This past week, I traveled to Las Vegas to have our planning meeting for the 2024 year with our Indurante group and then came back to Kansas City for our planning meeting with the Swartz employees. I decided this would be an excellent question to pose to each of the employee groups.

“Are we the best?” I casually inquired during the middle of each of our meetings as I was curious how everyone would respond.

Like me, collectively, they were surprised by the question and stumbled a little with their respective answers. “Well, of course we are!”, “who’s better?”, “excellent question… How did you answer?” were some of responses coming from all directions.

In short, my answer is, and will continue to be, we try to be the best we can be in representing our client’s interests. We are professional, ethical, transparent and try to be as communicative as possible to both our clients and County representatives or State governing officials we work with on a daily basis.

  • Are we the most aggressive company in our service industry? NO
  • Is our sole focus maximizing reductions without concern for the governmental entities? NO
  • Will we risk our reputation to benefit a very few? – NO

How do we define “the best”?

Interesting question... Are we the best?I believe our testimonials and client retention speak volumes to the work we provide. Our positive feedback from both clients and government officials also positively reflects on our work. I believe we have the best employees working in our respective companies and their years of service and commitment to the clients continually reinforces our mission.

I don’t know if we are the best, but we know how to take care of our clients ????

Speaking of planning meetings, chalk the 2023 meetings up to another successful series of days of positive and candid discussion to promote efficiency in our work place and continuing to provide value to our clients. Our discussions were somewhat different, as Indurante has a finite number of opportunities – there are only so many owners and managers of private railcars.

Contrast that with Swartz where the opportunity to represent owners of commercial/industrial properties and machinery/equipment is literally endless. At the end of the day, our companies are similar and our goals are the same. If we take care of our customers, the financial rewards will take care of themselves. The key is to ensure we are focused and taking care of the tasks at hand.

I will end this blog with how I started… Are we the best? Again, I believe our clients would say yes because they are happy and stay with us. If you aren’t a client, give us a chance to show you what we’re capable of doing for you! Feel free to reach out to me at or .