Portland, OR CAM Reconciliation Guide
Vacancy rates, property tax system, operating expense benchmarks, and market-specific CAM billing considerations for Portland, OR commercial landlords.
Current Vacancy Rates
Source: CBRE/JLL Q4 2025 Market Reports
Average CAM per Square Foot
Property Tax System
Multnomah County Assessor
File appeal with Multnomah County Board of Property Tax Appeals by December 31. Can appeal to Oregon Tax Court (Magistrate Division).
~1.2-1.5% effective rate (Measure 5 caps at 1.5% of RMV for general government, but compression can apply)
Key Submarkets
CAM Billing Considerations
- Oregon Measure 5 & 50 create dual-value system (RMV vs. MAV) complicating assessments
- Portland Clean Energy Fund surcharge on large businesses affects operating costs
- Severe downtown vacancy and urban livability concerns impacting valuations
- No sales tax but higher income tax — different fiscal structure than most markets
- Earthquake risk (Cascadia subduction zone) increasingly priced into insurance
BOMA Portland
Market Context
Portland's dual-value assessment system (Real Market Value vs. Maximum Assessed Value) under Measures 5 and 50 creates Oregon-specific complexity for property tax CAM pass-throughs that exists nowhere else in the US.
Related Resources
Reconcile Portland, OR Properties
CapVeri accounts for market-specific vacancy, local tax timing, and property-type-specific expense pools in your reconciliation.
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