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Norwood Selectmen set FY26 shift (TIP factor) at 71% after assessor presentation
Summary
After a public hearing on Dec. 2, 2025, the Board of Selectmen voted to set the residential/commercial shift (TIP factor) at 71% for FY26, citing unusually large commercial new growth led by FM Global and other projects; board said the change provides modest residential relief while limiting commercial impact.
The Town of Norwood Board of Selectmen voted Dec. 2 to set the local property-class shift (the TIP factor) at 71 percent for fiscal year 2026 after a public hearing with the Board of Assessors.
Assessor Tim McDonough told the board the town’s new growth this year is the highest he has seen, driven primarily by the construction at FM Global (about 70% complete), continued hospital projects and Moderna. McDonough said those commercial and industrial increases — including a roughly $210 million FM Global building — produced an unusually large new‑growth figure and expanded the…
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