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Price base for street construction fee

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4/24/2024
Measurment
1987-2024
Statistics Iceland
VIS13501
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Mandatory
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The price base for street construction fees is a measurement which has its origins in the fact that upon the entry into force of the Act on Street Construction Fees, no. 153/2006, the street construction fee was determined as 15% of the construction cost per square meter as measured by Statistics Iceland on the basis of Act no. 42/1987 on the construction cost index. On 1 January 2022, the law on the construction cost index expired and from that time the measurement was included in the law on Statistics Iceland and official statistics 163/2007. On that occasion, Article 4 of the Act on Street Construction Fees was updated in accordance with the amendment. From 1987-2009, the price per square meter was measured by direct measurements from an apartment building in the capital area, which had been built in 1975, but the foundation was updated with development in construction technology until 1987. The house was one of three stairwells in a four-storey apartment block. The stairwell contained ten apartments, three two-room, three three-room and four four-room. The area (exterior) of the house was 240 m2 and the volume 2844 m3. Since 2010, the price per square meter has been extrapolated with changes in the construction cost index on a new basis. The price basis for the street construction fee is a continuation of the extrapolation of the price per square meter, incl. changes in the construction cost index as it is calculated each time.