Philadelphia, PA CAM Reconciliation Guide
Vacancy rates, property tax system, operating expense benchmarks, and market-specific CAM billing considerations for Philadelphia, PA commercial landlords.
Current Vacancy Rates
Source: CBRE/JLL Q4 2025 Market Reports
Average CAM per Square Foot
Property Tax System
Philadelphia Office of Property Assessment (OPA)
File appeal with Board of Revision of Taxes (BRT) by first Monday in October. Can appeal to Court of Common Pleas. City completed reassessment in 2023 after decades of stale values.
~1.4% effective rate (but Philadelphia also levies BIRT and NPT business taxes)
Key Submarkets
CAM Billing Considerations
- Recent citywide reassessment (2023) after decades caused massive value shifts
- BIRT (Business Income & Receipts Tax) and NPT layer on operating costs
- 10-year tax abatement program for new construction distorts comparables
- Cross-state metro (NJ suburbs) adds jurisdictional complexity
- Older building stock means higher maintenance CAM per SF
BOMA Philadelphia
Market Context
Philadelphia's first comprehensive reassessment in decades created major property tax disruption starting in 2023. The 10-year tax abatement for new construction creates dramatic disparities in tax pass-throughs between abated and non-abated properties.
Related Resources
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