Building Valuation Data – FEBRUARY 2023

The International Code Council is pleased to provide the

following Building Valuation Data (BVD) for its members. The

BVD will be updated at six-month intervals, with the next update

in August 2023. ICC strongly recommends that all jurisdictions

and other interested parties actively evaluate and assess the

Fee Multiplier, which is based on the total construction value

within the jurisdiction for the past year. The Square Foot

Construction Cost table presents factors that reflect relative

value of one construction classification/occupancy group to

another so that more expensive construction is assessed

permit fees. It is important to note that while this BVD table does

determine an estimated value of a building (i.e., Gross Area x

which is to help establish permit fees so as to fund code

compliance activities. This BVD table provides jurisdictions with

of construction. Therefore, the bidding process for a particular

building for determining the permit fee. Whether a specific

related code enforcement activities is not directly affected by the

109.3, this data is offered as an aid for the building official to

determine if the permit valuation is underestimated. Again it

should be noted that, when using this data, these are “average”

costs based on typical construction methods for each

occupancy group and type of construction. The average costs

include foundation work, structural and nonstructural building

components, electrical, plumbing, mechanical and interior finish

account any regional cost differences. As such, the use of

Regional Cost Modifiers is subject to the authority having

2. Determine the percentage (%) of the building

department budget expected to be provided by building

Example

The buil

expects to cover 75 percent of that from building permit fees.

The total annual construction value which occurred within the

Examp

greatly, the Square Foot Construction Costs table does

stand-alone building which happens to be attached to

an existing building. In the case of such additions, the

only alterations to the existing building would involve the

the openings between the addition and the existing

building.

• The Square Foot Construction Cost does not include

the price of the land on which the building is built. The

Square Foot Construction Cost takes into account

and coverings but does not include the price of the land.

code enforcement activities and is not included in the

A-1 Assembly, theaters, without stage

A-2 Assembly, nightclubs

A-2 Assembly, restaurants, bars, banquet halls

I-1 Institutional, supervised environment