You can use the event SettingChangingif you need to know before the change occurs:
Properties.Settings.Default.SettingChanging += SettingChanging;
void SettingChanging(object sender, System.Configuration.SettingChangingEventArgs e)
{
}
You can also get a new value by checking e.NewValue.
Otherwise use PropertyChanged:
Properties.Settings.Default.PropertyChanged += SettingChanged;
void SettingChanged(object sender, PropertyChangedEventArgs e)
{
}