Archive for category: General Information

By Gary A. Stone, ASA, Manager at Swartz and Associates

If you operate in more than one state, you know that business personal property tax is not uniform. Every state, and sometimes local jurisdiction, that taxes personal property, has its own laws governing what is taxable and how reported costs are valued. After working with companies across multiple jurisdictions, the challenge is to keep abreast of each state’s statutes and the lack of consistency that exists from county to county.

Same Assets, Different Treatment

One area to consider is that the same asset can be treated completely differently depending on where it is located, for example manufacturing equipment. In one state, it might be fully exempt. In another, it’s taxed but benefits from favorable depreciation. Whereas in other states, manufacturing equipment is fully taxable with a longer economic life.

That creates a situation where companies are not just managing assets. They are managing how those assets are viewed in each jurisdiction.

Valuation Isn’t One-Size-Fits-All

Valuation also varies from state to state. Typically, each state will have prescribed depreciation tables. This helps with providing uniformity for all the assessors to follow within the state. However, the tables will invariably differ with each state. There are some that use a modified version of the MACRS federal income tax depreciation schedule. While other states have an option for the taxpayer to offer a fair market value approach.

Even when tables are provided, how assets are classified can significantly impact the outcome. I’ve seen situations where something as simple as how tooling is categorized can materially affect a tax bill.

Classification Does Make a Difference

As previously stated, the misclassification of assets is an area that can unnecessarily inflate a taxpayer’s liability. I’ve come across questions such as:

• Is it real property or leasehold improvements?
• Is it exempt or taxable?
• Should construction-in-progress be reported?

Those answers vary by jurisdiction and getting them wrong can have a significant impact on your liability.

Deadlines, Filings, and the Administrative Burden

Then there’s the compliance side. It’s not typically where companies run into major issues, but it does require ongoing attention. Each jurisdiction comes with its own deadlines, forms, and reporting expectations.

Across multiple states, this could be a laborious process for a team or person that is already managing a full workload, it’s one more responsibility that needs to be done right and on time. In many cases, the value isn’t just in getting it done, it’s in not having to think about it at all.

Where a Structured Approach Makes a Difference

Companies that handle this well tend to take a more disciplined approach. They centralize their asset data, apply consistent internal logic, and then adjust for state-specific rules where needed.

Just as importantly, they don’t assume that what worked last year, or in another state, will hold up everywhere else.

Why This Matters

Business personal property tax is local by design. But for companies operating across state lines, that local focus creates complexity that’s easy to underestimate.

That is where having someone who understands the nuances can make a difference. My role as a property tax consultant is to help companies navigate those differences; whether that’s improving reporting accuracy, identifying misclassifications, supporting audit defense, or simply taking the compliance burden off your team.

When you’re dealing with a system that isn’t consistent, having a consistent approach on your side matters.

Final Thought

If you’re operating in multiple states and treating business personal property tax as a routine compliance task, there’s a good chance you’re either taking on unnecessary risk or leaving money on the table. It’s probably worth a conversation.

Swartz + Associates, Inc. (SAI) is a full service property tax firm specializing in the review, analysis and appeals of real and business personal property tax valuations. If you need help with your property taxes, give us a call!

By Donald Swartz, President

Last month, my blog covered the 2026 Rail Equipment Conference I attended in Palm Springs and the importance/significance of attending and meeting with prospects and clients.

Fast forward one month as I attended CinemaCon 2026, the largest annual conference for theatre owners, vendors and consultants to the theatre industry. This conference typically draws over 3,000 attendees and I always wonder how I can make the “this year’s conference” meaningful and productive.

Sure enough, I was taking advantage of the buffet lunch during the tradeshow and ended up sitting (actually standing at a high top as there were no seats available!) with a group of people. The usual banter took place, “Where are you from? Is this your first conference? What do you do and what is your relationship with the theatres?”

Property Tax Reviews

After explaining our services, one of the individuals asked if we only represented theatre owners or if we handled property tax reviews for other types of commercial property. Hmmm, good question. 😊 He took my business card (big hint for those who think business cards are so yesterday), turned it over and scanned the QR code on the back and forwarded my information on to his boss.

About two weeks later I received an email from said boss, inquiring about our services. This company has three operating locations and a fourth soon to be open. The three current locations are in Des Moines, Minneapolis greater area and Omaha. Three areas we have significant experience as well as appeal success. With looming appeal deadlines approaching at the end of April, we moved very quickly and now have the MN and IA properties under appeal with a review of NE pending by June 30^th.

What is the moral of this story?

1. Business cards are still worth carrying?
2. Don’t miss the lunches at a conference?
3. Don’t talk with your mouth full?
4. Make the most of attending conferences as you never know where they will lead?

I will let you decide. Thanks for reading!

Swartz + Associates, Inc. (SAI) is a full service property tax firm specializing in the review, analysis and appeals of real and business personal property tax valuations. If you need help with your property taxes, give us a call!

By Donald Swartz, President

Noelle Giacomino and I recently attended our fourth Rail Equipment Finance Conference, held annually at the La Quinta Resort in La Quinta, CA. This has been an excellent conference to attend over the years as it provides us the opportunity to meet many of our clients and receive updates relating to railcars.

While the setting is conducive to a laid back and casual conference, it is not exactly what I would consider to be “laid back” or “casual”.  The conference begins bright and early on Monday morning at 7:30 am and sessions run continuously through 5 pm. Even lunch is its own learning session. Following the conclusion of the daily sessions, there is an outdoor reception that is usually very well attended before breaking off for respective dinners.

Connecting with Clients

Each year the goal is to spend a few minutes with our clients in attendance; meet prospective clients and follow the latest trends and updates in the industry. However, there is an art to making the most out of a conference and I’m certainly still learning.

It appears contacts already have breakfasts, lunches and dinners set up well before the conference begins. Whether companies are taking their employees to meet their vendors or they have scheduled planning meetings, etc. it can be tricky to line up face-to-face time on the fly.

I’ve always thought we should sit through every educational session to pick up anecdotes which may help us in our reviews of railcar property tax valuations and support for appeals we may consider. After attending several conferences, I do not necessarily believe that to be the case. I constantly see side conversations in the halls or in various areas for a coffee or beverage. Nothing formal, just 15-20 minute connections during the day to connect or to discuss a specific issue. Once finished, they may go back into the current session or have their next informal meeting.

Picking and Choosing Sessions

We need to pick and choose our sessions more carefully, and once we receive the annual attendance listing, reach out to those who will be attending. Rather than schedule long lunches or dinners, it may be more beneficial to try to set up quick, informal meetings throughout the conference. For seasoned conference attendees, this may be obvious. But even for someone like me who has attended conferences of some sort for almost 40 years, there are tricks to the trade that can always be honed.

Conferences are usually held in fantastic locations for a reason, I just need to make sure I take care to enjoy all the aspects the conference has to offer and not just the learning sessions. 😊

Swartz + Associates, Inc. (SAI) is a full service property tax firm specializing in the review, analysis and appeals of real and business personal property tax valuations. If you need help with your property taxes, give us a call!

By Eric Owens, Director at Swartz and Associates

The 2026 UMKC Real Estate Symposium, which took place at Arrowhead Stadium, once again proved why it is still an important gathering for commercial real estate participants in the Kansas City MSA. Hosted by the Lewis White Real Estate Center, this year’s event brought together practitioners, investors, developers, and advisors to examine the market conditions that are reshaping our industry — and what they mean for the decisions we make every day.

Key Takeaways

1. Market Conditions Are Fragmented — Asset‑Level Strategy Wins

Industrial is still strong, office is redefining itself, retail is stabilizing, and capital markets remain tight. For decision‑makers, the takeaway is simple: Broad narratives don’t matter — your specific asset, submarket, and income story do.

2. Workplace Shifts Are Now a Financial Strategy Issue

Office hybrid work models are not a trend; it’s a structural shift. Owners and CFOs are now modeling:

• Office utilization,
• Tenant Improvement risk,
• Long‑term occupancy patterns,
• and the Cost of Flexibility.

Workplace strategy is a balance‑sheet issue.

3. Fiscal Sustainability Is Reshaping Development & Valuation

Cities are prioritizing long‑term revenue stability. That means:

• more scrutiny on incentives,
• tighter underwriting assumptions,
• and increased attention on property tax impacts.

For owners, this is a direct signal: Your valuation strategy matters more than ever.

4. AI, Data Centers & Energy Infrastructure Are Creating New Winners

Demand for power, connectivity, and compute is reshaping land use and development economics. Developers who understand these drivers — and can navigate zoning, incentives, and valuation — will lead the next wave of growth.

5. Tax & Legal Updates Are Becoming Competitive Advantages

From evolving Opportunity Zone rules to investor‑focused tax strategies, the regulatory environment is shifting fast. CFOs and owners who stay ahead of these changes will protect more value and reduce avoidable risk.

6. Affordable Housing & Community Development Remain Central

The capital stack is more complex, but the opportunity is real. Public‑private partnerships, layered financing, and long‑term community ROI were major themes.

Where we are headed…

The UMKC Symposium reinforced what many of us already feel: CRE is entering a cycle where discipline, data, and strategic clarity separate leaders from everyone else. If you’re an owner, CFO, or developer, this is the moment to sharpen your valuation strategy, reassess risk, and position your assets for the next phase of the market.

Swartz + Associates, Inc. (SAI) is a full service property tax firm specializing in the review, analysis and appeals of real and business personal property tax valuations. If you need help with your property taxes, give us a call!

 

By Donald Swartz, President

Kansas City recently announced three countries will call our metro area “home” during the FIFA World Cup this summer. These three countries, Argentina, England and the Netherlands, will bring thousands of fans to our city during the month of June as well as thousands more to experience the World Cup activities across North America. Additionally, it is quite possible we will have a fourth country, Algeria, that may create a base camp only 40 minutes away in Lawrence, KS.

Economic Impact

There have been estimates and various predictions of the economic impact affecting the area. Imagine a metropolitan area of 2.2 million people increasing to over 2.8 million for a 30-day period.

Charles Young and I recently attended the Hotel & Lodging Association of Greater Kansas City annual meeting. While there was excitement and emphasis placed upon the increase in potential revenue, there were also several speakers brought in to address issues most of us have not considered.

For example, the Kansas City Police Department is recruiting officers from a 200-mile radius to assist in the policing of the area during the World Cup. The goal (no pun intended) is to double the number of active-duty officers over the month of June from 2,000+ to 4,000+ officers. Additionally, training is being offered to help understand the differences between passion, exhilaration and national pride with rowdiness, loitering and troublemaking. What is the economic “cost” of providing these services?

From our perspective, what will the high occupancy rates and inflated room rates do to property tax values? It is anticipated room revenues for 2026 will be higher than any year since well before the Pandemic. Average Daily Rates and occupancy levels may hit all time highs over the summer months with revenues (and profits) soaring.

Does this increase the value of the real estate for property tax purposes? Can we isolate these revenues as “one-offs”? Will the visibility the metro area receives during the World Cup translate to increased tourism in future years (also resulting in a boost to the hospitality industry)? All factors that owners and managers need to consider when reviewing their annual property tax statements.

I am excited to see how the greater Kansas City area responds as it hosts its largest event in history, but I’m also anxious to see how the area county assessors will respond to try to “level” the playing field – Pun Intended!

Learn more about the impact that the FIFA World Cup will have on Kansas City here:
KC2026 Hits Its Stride: Smallest Host City Sets High Standard for FIFA World Cup™ Readiness

Swartz + Associates, Inc. (SAI) is a full service property tax firm specializing in the review, analysis and appeals of real and business personal property tax valuations. If you need help with your property taxes, give us a call!