A non-blocking chromatic tree is a type of balanced binary search tree where multiple processes can concurrently perform search and update operations. We prove that a certain implementation has amortized cost O(dot{c} + log n) for each operation, where dot{c} is the maximum number of concurrent operations at any point during the execution and n is the maximum number of keys in the tree during the operation. This amortized analysis presents new challenges compared to existing analyses of other non-blocking data structures.