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.
WELCOME to the VILLAGE of CALEDONIA, RACINE COUNTY, WISCONSIN. The Village of Caledonia, Wisconsin is located in the northeast corner of Racine County on 48.7 square miles including 3.2 square miles of river and lake areas. Positioned between Lake Michigan and Interstate Highway I-94, Caledonia provides convenient access to area amenities & the Milwaukee to Chicago corridor.