A subjective estimate of what a willing buyer would pay a willing seller for a given asset, assuming both have a reasonable knowledge of the asset's worth. Market value is important in both law and accounting. In the former, it is often used in assessing damages as the result of a lawsuit. In the latter, determining the market value of an asset (e.g. after depreciation) is important to determining the amount of tax owed on it.
This article is about the town. For the adjacent village, see Somerset, Wisconsin. Somerset is a town in St. Croix County, Wisconsin, United States. The population was 2,644 at the 2000 census. The Village of Somerset is located within the town.
Whatever the Season. Ladysmith is located in Rusk County, Wisconsin. Picnic at Memorial Park or Falge Park in Ladysmith, or peruse the local produce and products offered for sale at the Farmers Market, open late Spring through early Fall. Rusk County also has two 9-hole golf courses; Tee-A-Way Golf and Supper Club in Ladysmith and Amacoy Golf course in Bruce.