"Tim, too, drinks coffee."
Translation:Тим тоже пьёт кофе.
Firstly, there is a typo: "таже" is not a word. Secondly, the meaning will change, just like it would in English: the question is whether "too" refers to Tim (he is among the people who drink coffee) or to coffee (coffee is among the substances he drinks).
Just a remark. The explanation from zirkul covers the word "также". There are two more possibilities to get the wrong "таже": "так же" (the same way) and "та же" (the same [feminine]).
How would you then say 'Tim also drinks coffee (and not only milk) ?'