DE HB438

Replaces the existing Voluntary School Assessment formula with a new calculation based on the average cost per square foot to build a school in the district, multiplied by 0.625%, then multiplied by the square footage of the proposed dwelling unit.

Caps Voluntary School Assessments at $1,000 for apartments, $2,000 for townhomes, and $5,000 for all other dwelling types.

Changes assessment timing from a flat fee at plan filing to individual per-unit assessments at building permit issuance, with payment due when the Certificate of Occupancy is issued.

Requires school capacity calculations on a district-wide basis for pre-K through grade 12 without regard to specific bus routes or feeder patterns.

Allows developers with existing agreements to opt into the new assessment formula and permits school districts to credit the fair market value of lands or properties deeded to the district against assessed amounts.