Yep, you are correct - my mistake. Still, any permit in that case would only be for electrical and any electrical inspection won't reveal the end state of the basement. Bedrooms have a pretty strict legal definition and it's unlikely a retrofit basement will meet those requirements, so you won't see much change in the assessed value of the house.
It's one of those things like a built in pool, that if it's done properly, could make the house sell faster, or if done poorly, sell slower, but not drive a big price change.
-- "Tell me what I should do, Annie." "Stay. Here. Forever." - Life On Mars