From the Wisconsin State Journal: Residential assessments in Madison increased 3.2% while commercial property jumped 4%, according to this year’s tax assessments. Overall, real estate values increased 3.5%. It marked the first time since 2008 that assessments for the average single-family home increased. Values increased in 104 of 110 neighborhoods, rising the most (8.8%) in the South Madison, Sunset Village, and University Heights neighborhoods, but falling 1.5% in the Holiday Bluff area near the airport.
The average price of a single-family home in the city increased 3%, to $237,678, although that is far below the 2008 peak of $274,974.
The city saw a whopping 76% increase in new construction over 2013 — for a total of $392 million — thanks to projects like the Edgewater hotel and various sites along the East Washington corridor. There are currently 22 large apartment complexes either in progress or just completed throughout Madison, with most (14) located in the downtown area.
