Norwood sets FY26 residential/commercial shift at 71%, citing large commercial growth
Summary
After a public hearing, the Norwood Board of Selectmen voted to set the FY26 tax 'tip' (shift) factor at 71%, a choice the board said gives modest residential relief while limiting commercial increases amid unusually large new growth from FM Global and other projects.
The Norwood Board of Selectmen voted Dec. 2 to set the fiscal year 2026 residential/commercial shift (the "tip" factor) at 71% after a public hearing and a presentation from the Board of Assessors.
Assessors, represented by Tim McDonough, told the board the town’s new growth this year is the highest in his tenure, driven largely by the construction of FM Global (cited during the hearing as a roughly $210 million project) and continued activity at the hospital and Moderna. Those changes increased the town’s taxable commercial base and produced unused levy capacity the board may draw on in future years.
At the hearing the assessors presented modeled impacts for several shift options (70–73%). The 71% option the board selected was described by Selectman Plasco as a compromise that “still results in a lower tax rate on the residential side” (quoted during debate) — the board cited a modeled residential rate near $9.82 under the 71% choice — while keeping commercial increases beneath 3 percent in their models. The board approved the motion to adopt the 71% shift by voice vote.
A handful of residents spoke during the public comment period. Jan Lynch said she was concerned about the future direction of tax rates alongside other local issues; two other speakers thanked the board and noted the economic benefits of FM Global remaining and expanding in Norwood.
Chair and other selectmen noted that unused levy capacity created by this year’s new growth does not vanish if not used now and can be factored into future budgets. The assessors emphasized that the Department of Revenue determines allowable tip‑factor options once the town submits values.
The board’s formal adoption of the 71% tip factor permits staff to complete tax calculations and move ahead with mailings. The hearing record and the assessors’ presentation will be part of the municipal reporting sent to the State Department of Revenue.
The board took the vote at the meeting’s conclusion of the public hearing and placed no additional conditions on the action.
