Denver, CO CAM Reconciliation Guide
Vacancy rates, property tax system, operating expense benchmarks, and market-specific CAM billing considerations for Denver, CO commercial landlords.
Current Vacancy Rates
Source: CBRE/JLL Q4 2025 Market Reports
Average CAM per Square Foot
Property Tax System
Denver County Assessor / Adams County Assessor / Arapahoe County Assessor
File protest within 50 days of Notice of Valuation (typically June 1). County Board of Equalization hearing. Biennial reassessment for commercial (odd years).
~0.5-0.8% effective rate (29% assessment ratio for commercial, but varies with Gallagher Amendment changes)
Key Submarkets
CAM Billing Considerations
- Gallagher Amendment repeal (2020) is shifting assessment ratios for commercial property
- TABOR limits constrain local government revenue, affecting service levels
- Biennial reassessment cycle creates two-year lag in value adjustments
- Hail/severe weather insurance costs are significant in metro area
- Rapid growth in airport submarket near DIA
BOMA Denver
Market Context
Denver's unique constitutional framework (TABOR + former Gallagher Amendment) creates a property tax environment unlike any other state. The biennial commercial reassessment cycle means values can lag market shifts significantly.
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