27What is the taxable value of a transmission easement?

27 What is the taxable value of a transmission easement? (1) The ***taxable value*** of a transmission easement is— (a) in respect of the 2006 tax year—the value as at 1 January 2004 determined in a valuation made under section 5B of the **Valuation of Land Act 1960**; S. 27(1)(b) substituted by No. 84/2006 s. 11(1). (b) in respect of every tax year after 2006, the value as at the relevant easement valuation date determined in a valuation made under section 5B of the **Valuation of Land Act 1960**. S. 27(1)(c)(d) repealed by No. 84/2006 s. 11(1). S. 27(2) substituted by No. 84/2006 s. 11(2). ***relevant easement valuation date***, for a transmission easement in respect of a tax year, means the date as at which a valuation of the transmission easement was last made in accordance with section 5B of the **Valuation of Land Act 1960**, being a date before 1 January in the tax year.