Tampa Bay, FL CAM Reconciliation Guide
Vacancy rates, property tax system, operating expense benchmarks, and market-specific CAM billing considerations for Tampa Bay, FL commercial landlords.
Current Vacancy Rates
Source: CBRE/JLL Q4 2025 Market Reports
Average CAM per Square Foot
Property Tax System
Hillsborough County Property Appraiser / Pinellas County Property Appraiser
File petition with Value Adjustment Board (VAB) by September 15 (or 25 days after TRIM notice). Magistrate hearing process.
~1.5-2.0% effective rate (no state income tax)
Key Submarkets
CAM Billing Considerations
- Hurricane insurance costs dominate CAM variance year-over-year
- Rapid corporate in-migration tightening office market vs. national trends
- Flood zone mapping changes affect insurance requirements and costs
- Water Street Tampa mega-development reshaping downtown market
- Citizens Insurance surcharges as pass-through CAM items
BOMA Tampa Bay
Market Context
Tampa Bay bucks the national office vacancy trend with tighter fundamentals due to corporate in-migration. However, hurricane and flood insurance remain the dominant variable in CAM reconciliation, with premiums subject to dramatic annual swings.
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