It can be complicated to figure out from the building code side because of the definition of "Grade Plane". You have to get an accurate elevation from many points around the house to get an accurate average, and a lot of the time you will not know what finished grade is actually going to be until the final inspection time - maybe.
From the 2021 International Residential Code.
[RB] BASEMENT. A story that is not a story above grade plane (see “
Story above grade plane”).
[RB]STORY ABOVE GRADE PLANE. Any story having its finished floor surface entirely above grade plane, or in which the finished surface of the floor next above is either of the following:
- More than 6 feet (1829 mm) above grade plane.
- More than 12 feet (3658 mm) above the finished ground level at any point.
[RB]GRADE PLANE. A reference plane representing the
average of the finished ground level adjoining the building at all exterior walls. Where the finished ground level slopes away from the exterior walls, the reference plane shall be established by the lowest points within the area between the building and the lot line or, where the lot line is more than 6 feet (1829 mm) from the building between the structure and a point 6 feet (1829 mm) from the building.
So, walk-out basements are almost always considered to be basements by the building code.