Madison residents are receiving mailings indicating their assessments have fallen for the fourth consecutive year, although property values across the city rose because of rising commercial values.
Residential assessments fell an average of 0.5 percent across the city in 2013, with condominiums and properties on the north and far east sides leading the decline, according to data from the city assessor's office.
City Assessor Mark Hanson said the city is turning a corner.
"This follows three years in a row of declines, so overall this is a good report," he said.
Condo values fell an average of 2.7 percent, as the market remains soft. Only 4.1 percent of condo units rose in value.
Single-neighborhood assessments fell by 12.6 percent in the Burr Oaks-Lincoln School neighborhood on the South side, the worst drop in the city. The neighborhood generally covers the area between Fish Hatchery Road, West Wingra Drive, South Park Street, and the Beltline.