HomeMy WebLinkAboutFile Documents.101 S 7th St.0002.2017 (5).ARBUProperty
RETAIN FOR PERMANENT FILE
CITY OF ASPEN COMMUNITY DEVELOPMENT
VALUATION ADJUSTMENT POLICY
Number:
This valuation adjustment only applies to projects with a valuation greater than $100,000 calculated according
to the applicable valuation policy. The owner or authorized agent must sign this understanding.
City of Aspen Ordinance No. 55, Series of 1999 Chapter 8.16 adopts the 2003 International Residential Code
(IRC) with certain amendments and Chapter 8.20 adopts the 2003 International Building Code (IBC) with
certain amendments.
The codes define building valuation as follows:
IRCRI08.3 Building perrnit valuations. Buildingperniit valuation shall include total value of the work
for which a permit is being issued, such as electrical, gas, mechanical, plumbing egutpnent and other
permanent systems, including materials and labor.
IBC 108.3 Building permit valuations. The applicant for a permit shall provide an estinnated permit
value at time of application. Permit valuations shall include total value ofwork,, including materials and
labor, for which the perrnitis being issued, such as electrical, gas, mechanical, plumbing equipment and
permanent systems. If, in the opinion of the building official, the vabiatiorn is underestimated on the
application, the permit shall be denied, unless the applicant can show detailed estimates to meet the
approval of the building official Final building permit vahiation shall be set by the building official.
(a) For the purpose of valuation adjustment a detailed final construction cost estimate, including the items
referenced above, shall be considered for approval.
(b) If a valuation adjustment is made the building plan review and building permit fees will be adjusted
accordingly.
(c) The City Use Tax Auditor will be notified of the adjustment and an audit will be performed.
(d) Building plan review, building permit fee and use tax adjustments will be refunded or collected when the
final reconciliation return is filed and a use tax audit is complete.
(e) Any fees due must be paid. Unpaid fees may be subject to collection procedures of the City of Aspen.
The undersigned has read this policy and will comply with its provisions as a basis for the issuance of a building
permit for the projeet.
o authorized
or agent's signature Print Name
Date