void NewPropertyGrid_PropertyValueChanged(object s, PropertyValueChangedEventArgs e)
Here "s" will give you the PropertyGrid as object. You need to cast it and use it
Update 1:
You can also check e.OriginalSource.
Update 2:
You are supposed to cast like,
((PropertytyGrid)s).Tag
or
(s as PropertyGrid).Tag
Mark it as answer if it helps you