Property Tax Rebates: Check if you are eligible for ANCHOR program payments?

 New Jersey has informed its citizens about the eligibility for the Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) scheme.

ANCHOR, replacing the Homestead Benefit program, will see the number of eligible citizens increase as millions of residents can claim rebates.

“The ANCHOR program will deliver real, tangible property tax relief to homeowners and renters, a historic step toward making New Jersey a more affordable state,” said Governor Phil Murphy.

“By working closely with the Senate President and the Speaker, we were able to fully fund the program in its first year, allowing us to provide direct relief to over 1 million homeowners and 900,000 renters. I am incredibly proud of this program and encourage all eligible residents to apply.”

Who is eligible for ANCHOR program payments?

The two main criteria are the resident’s income on the one hand and whether you’re a homeowner or a renter on the other. According to the state’s official website, more than 870,000 homeowners with incomes up to $150,000 will receive $1,500 in relief.

Over 290,000 homeowners who earn between $150-250,000 will get $1,000 and more than 900,000 renters with incomes up to $150,000 will receive $450.

When will you get the checks?

You can file your taxes online, by phone, or by mail by December 30, while checks or direct deposits will be sent before May 2023.

“With all levels of state government working together, we envisioned and delivered the boldest property tax relief program in our state’s history and at a time when New Jerseyans need it most,” said Assembly Speaker Craig J. Coughlin.

“With up to $1,500 in property tax rebates available to homeowners and $450 for renters, we prioritized tax relief for two million households to get money back in their pocket.

“A game-changer for folks who have had to stretch their budgets further and further, the next critical step in receiving these benefits is to ensure you apply.”