Las Vegas, NV CAM Reconciliation Guide
Vacancy rates, property tax system, operating expense benchmarks, and market-specific CAM billing considerations for Las Vegas, NV commercial landlords.
Current Vacancy Rates
Source: CBRE/JLL Q4 2025 Market Reports
Average CAM per Square Foot
Property Tax System
Clark County Assessor
File appeal with County Board of Equalization by January 15. Can escalate to State Board of Equalization. Tax cap limits annual increases.
~0.7-1.0% effective rate (constitutional cap of 3.64% of assessed value; assessed at 35% of taxable value)
Key Submarkets
CAM Billing Considerations
- Nevada's tax abatement cap limits annual property tax increases (3% for commercial)
- Extreme cooling costs dominate summer CAM expenses
- No state income tax — favorable business cost structure
- Water costs increasingly material given Colorado River constraints
- Sports venue developments (Raiders, F1, A's) reshaping commercial demand patterns
BOMA Las Vegas
Market Context
Nevada's 3% annual tax cap on commercial properties provides unusual CAM tax predictability. Extreme summer cooling costs and growing water scarcity costs are the dominant variable CAM expenses.
Related Resources
Reconcile Las Vegas, NV Properties
CapVeri accounts for market-specific vacancy, local tax timing, and property-type-specific expense pools in your reconciliation.
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