Seattle, WA CAM Reconciliation Guide
Vacancy rates, property tax system, operating expense benchmarks, and market-specific CAM billing considerations for Seattle, WA commercial landlords.
Current Vacancy Rates
Source: CBRE/JLL Q4 2025 Market Reports
Average CAM per Square Foot
Property Tax System
King County Assessor
File appeal with King County Board of Equalization by July 1 (or 60 days after value notice). Can escalate to State Board of Tax Appeals.
~1.0-1.2% effective rate (no state income tax)
Key Submarkets
CAM Billing Considerations
- Tech sector concentration drives volatile demand cycles
- No state income tax — property tax is primary commercial revenue source
- Seattle head tax / JumpStart Payroll tax affects operating budgets
- Amazon campus dominance in South Lake Union distorts submarket metrics
- Seismic retrofit costs emerging as CAM capital recovery items
BOMA Seattle King County
Market Context
Seattle's heavy tech concentration creates boom-bust demand cycles. The 24.8% vacancy reflects post-COVID tech sector right-sizing. No state income tax makes property taxes a larger share of the fiscal equation.
Related Resources
Reconcile Seattle, WA Properties
CapVeri accounts for market-specific vacancy, local tax timing, and property-type-specific expense pools in your reconciliation.
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