Quote 1:
The VOA may refer to the tone of the list. Tone is the general level of bands which have been established in an area for a particular type of property. This is where a number of similar properties have bandings which, over time, have not been challenged or changed. A tone is also set when appeals on properties in the area have been settled or decided by the Tribunal.
Quote 2:
For most properties, rateable value is based on an estimate of the rental value of the property. Assessors take rental values from the same point in time, known as the ‘tone date’. For current valuations this was 1 April 2015. The tone date for the next revaluation is 1 April 2022.
Quote 3:
The RV is usually based on the area and appropriate rental rate per square metre at the tone date of the property, but exceptions exist (e.g. licensed premises or hotels based on turnover); specialist buildings may be valued on a ‘contractor’s basis’ (cost method).
Quote 4:
The Rateable Value calculation is effectively an estimate of the annual rent which the VOA/Assessor believes the premises would command in the open market as at 1 April 2015 (the ‘Tone Date’). For the next Revaluation the Tone Date is 1st April 2023.