14 Del. Admin. Code § 415-4.0 - Determining Total Cost of a Residential Unit

4.1 Pursuant to 14 Del.C. § 103(c)(3), a Voluntary School Assessment shall not exceed 5 percent of the total cost of a residential unit.

4.2 Determining Total Cost of a Residential Unit

4.2.1 For the purpose of this regulation, the total cost of a residential unit shall mean the total cost to construct the unit.

4.2.1.1 The total cost shall equal the Gross Area of the unit multiplied by the square footage construction cost that is derived from the Building Valuation Data table that is first issued for the current calendar year.

4.2.1.2 The total cost shall not include the cost of land and site work.

4.2.2 The developer shall contact the Department to identify residential units subject to the 5 percent limitation.

Notes

14 Del. Admin. Code § 415-4.0

18 DE Reg. 304 (10/1/2014)
22 DE Reg. 296 (10/1/2018)
27 DE Reg. 515 (1/1/2024) (Final)