San Jose, CA CAM Reconciliation Guide
Vacancy rates, property tax system, operating expense benchmarks, and market-specific CAM billing considerations for San Jose, CA commercial landlords.
Current Vacancy Rates
Source: CBRE/JLL Q4 2025 Market Reports
Average CAM per Square Foot
Property Tax System
Santa Clara County Assessor
File Assessment Appeal Application with county Assessment Appeals Board. Prop 13/Prop 8 apply. Large tech campus assessments are frequently contested.
~1.2-1.3% effective rate (Prop 13 plus local overrides)
Key Submarkets
CAM Billing Considerations
- Tech campus format dominates, with single-tenant properties and complex operating agreements
- Extremely high vacancy due to tech layoffs and work-from-home
- Prop 8 claims being filed aggressively as values decline from 2021 peaks
- Data center power costs as specialized CAM category
- Google Downtown West mega-project reshaping central San Jose market
BOMA Silicon Valley
Market Context
San Jose has 27.5% office vacancy due to tech sector contraction. Campus-format properties with single-tenant operating structures create CAM reconciliation challenges that differ from multi-tenant office.
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