NEW JERSEY — There is just one day left for New Jersey homeowners and renters to apply for up to $1,750 in property tax relief through the state's ANCHOR program.
In the first year of ANCHOR, which stands for Affordable Communities for Homeowners and Renters, Treasury officials said close to 1.6 million Garden State residents received benefits — with almost $2 billion sent out by Dec. 7.
New applications are due in by Friday, Dec. 29 for anyone who occupied or owned their residence as of Oct. 1, 2020. Residents can receive between $450 and $1,750 in property tax relief from the state, depending on their age, income, and residency.
Applications can be submitted online, or printed out and postmarked by Friday. The Division of Taxation said that officials "expect to release several large batches of ANCHOR benefits" beginning on Jan. 2, 2024. If you have already applied, and have not received your benefit by Jan. 12, contact the Division.
New applicants, and those who had to change information from last year's application, will receive payments on a rolling basis, officials said. If you applied but have not received a benefit yet, the Division of Taxation has an online lookup to check the status of your payment.
In its first year, the ANCHOR program offered tax rebates ranging from $450 to $1,500 to New Jersey residents making under a certain income threshold. Treasury officials said in total, 1.7 million homeowners and renters applied for, and received, a benefit last year. The average benefit is $971 for each eligible resident, state officials said.
The payment amount increased for this year for seniors — up to $1,750 for senior homeowners and $700 for renters, as laid out in the Fiscal Year 2024 budget. Those under 65 will receive between $450 and $1,500, state officials said.
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NJ ANCHOR Deadline Is Friday: How To File, Check Payment Status - Patch
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