Newton Finance Committee unanimously backs maximum commercial tax shift for FY2026

NEWTON — November 17, 2025 — Newton's Finance Committee voted 7-0 to recommend the maximum allowable commercial tax shift for fiscal year 2026. The committee endorsed a residential factor of 0.937074, corresponding to a 174.68 percent shift — the nearest achievable to 175 percent without breaching the levy limit — producing a residential tax rate of $9.69 per thousand and a commercial rate of $18.06 per thousand. CFO Maureen Lemieux called the decision "really an easy one," noting the 175 percent option yields the lowest possible single-family tax increase at 4.75 percent while commercial rates rise just 3.46 percent. City Assessor Jim Shaughnessy reported that Newton's median single-family sale price has reached $1.85 million, with 18 percent of homes now selling above $3 million. Lemieux flagged that $1.7 million of the overall 4.42 percent levy increase stems directly from debt-exclusion borrowing for the Countryside and Franklin school projects. The lone dissenting voice was Councilor-at-Large Larry Lucas, who said he would oppose the 175 percent shift at the full council, as he has in prior years, in favor of the more business-friendly 170 percent option.