§ 20.503. Schedule of rates for tax.

(a)

Adopted by County Council. The County Council shall adopt by resolution a schedule of rates for the building excise tax in dollars per gross square foot of new construction. The schedule shall specify rates per gross square foot of:

(1)

Residential addition construction;

(2)

Residential new construction;

(3)

Office and retail addition construction and new construction;

(4)

Distribution and manufacturing addition construction and new construction; and

(5)

Institutional and other addition construction and new construction.

(b)

Adjustment to Rates. The schedule of rates for the building excise tax may be adjusted annually by the County Council. However, the percentage of increase in the tax since the month and year when it was first adopted may not exceed the percentage of the increase in construction costs since the base month and year when the tax was first adopted.

(C.B. 38, 1998; C.B. 20, 2010, § 1)