Property assessments in Madison have risen by 3.5% . It is the first increase for residential properties in 6 years. The only neighborhood to show a slight decline was Holiday Bluff, near the Dane County Regional Airport. The average residential propery increase is 3.2 %. Commercial property is up 4%. Madison Mayor Paul Soglin says commercial property is becoming a larger part of the city's tax base. In 2013, new construction totaled $392 million , a 76 % jump from 2012. Notices of changes in property assessments for 2014 are being mailed to property owners.