Seasonal Guide

Property Tax Assessment Season: How Assessments Flow Into CAM and When to Appeal

Property tax is typically the largest single CAM line item. Assessment changes affect every tenant reconciliation — and the right response strategy determines how much you recover.

Property tax assessment season occurs on different schedules by jurisdiction — typically spring (March–May) or fall (August–October). For commercial landlords, assessment changes flow directly into CAM pools as one of the largest — and most audited — expense categories. Understanding how assessments affect reconciliations, when appealing makes sense, and how to document tax pass-through for tenant statements is essential CAM knowledge.

Key Dates (4)

Date / TimeframeWhat Happens
Varies by jurisdictionAssessment notices issued (spring or fall depending on jurisdiction)
30–90 days after noticeProtest/appeal deadline (varies by jurisdiction)
Q4 of assessment yearFinal tax bill issued for the year
Year-end reconciliationActual tax amounts flow into CAM pool for reconciliation

Phase Checklist (7 items)

Track assessment notice receipt dates and protest deadlines for each property
Compare new assessment to prior year and market comparables
Calculate potential CAM impact if assessment stands: new tax ÷ total RSF × tenant SF
File protest for assessments with material errors or above-market valuations
Confirm property tax GL account is correctly mapped to your CAM recovery pool
Verify whether your leases classify property tax as Fixed or Variable for gross-up purposes
Update CAM estimates when final tax bills differ materially from estimated amounts

Common Mistakes

1Missing protest deadlines — most jurisdictions have strict cutoffs with no extensions
2Not updating CAM estimates when tax assessments increase materially mid-year
3Misclassifying property tax as a Variable expense for gross-up purposes (it's Fixed in most leases)
4Failing to document the tax pass-through calculation clearly in tenant statements

Where CapVeri Fits

CapVeri flags property tax amounts that vary materially from prior year actuals — surfacing potential assessment issues before reconciliation. When tax amounts change significantly, CapVeri's calculation trace shows exactly how the change flows through to each tenant's share, making it easy to explain the adjustment in tenant communications.

Catch Errors Before They Become Disputes

Upload your GL export and CapVeri independently recalculates every tenant's reconciliation — flagging errors before statements go out. First audit is always free.

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