Check your mailboxes: many New Jersey residents are receiving something special this holiday season thanks to the Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) program.
The state’s ANCHOR program is designed to provide property tax relief for renters and homeowners. This year, millions of payments are going out on a rolling basis. And with an extended deadline, residents could receive checks as late as March 2025.
We’ll cover when to expect your check, how much you may get, and the eligibility requirements for the fast-approaching deadline.
Key Points
- The New Jersey ANCHOR program is designed to provide property tax relief for eligible renters and homeowners.
- The deadline to apply has been extended to December 6, 2024.
- Payments are going out about 90 days after application.
FAQs
When do I get an ANCHOR check?
The ANCHOR program is a tax rebate for New Jersey-eligible residents renting or owning homes. The bill was signed into law two years ago. Since then, millions in the Garden State have been provided property tax relief.
Residents should have received letters confirming their enrollment by the end of August. The actual payments are issued on a rolling basis. Most will receive their payment about 90 days after application.
To check the status of your check, or for general New Jersey tax questions, call the ANCHOR hotline at (609) 826-4282 or 1-888-238-1233.
Starting this year, the state’s Division of Taxation has hired more agents to assist callers with the hotline. There is also an automatic callback feature, allowing you to be placed in a queue rather than wait on hold.
You can also visit one of the state’s Regional Information Centers in person for more information.
How much will ANCHOR payment be?
This year’s ANCHOR payment is based on 2021 income limits and remains the same as last year.
That means if you have been a New Jersey homeowner since 2021….
- With $150k in gross income, you will receive $1,500
- With $150k to $250k in gross income, you will receive $1,000
…and if you have been a renter in New Jersey since 2021, you will receive $450.
Any ANCHOR program residents aged 65 or older will receive a bonus of $250 in addition to the above applicable payment.
Why was my ANCHOR benefit higher than expected?
The standard ANCHOR check is one way New Jersians benefit from property tax relief, but you may be eligible for more money than initially thought.
For example, if you are age 65 or older, and are not required to file a NJ Gross Income Tax return, you may be eligible for a property tax credit of up to $50. This tax credit will be automatically applied to your next ANCHOR payment if you have not already claimed your $50.
You may also have received a “Senior Freeze” program check. Through this program, eligible New Jersey residents can effectively “freeze” their property tax. See if the state's property tax freeze benefit applies to you.
NJ ANCHOR benefit enrollment
The ANCHOR program utilizes data previously collected from taxpayers to determine who qualifies. That means if you filed for ANCHOR last filing season you are automatically enrolled for this year’s filing season. You should have received a letter in August from the state’s Division of Taxation confirming your eligibility.
The August letter listed your personal information from the last ANCHOR payment. If that information was not current, the Tax Division advised that you update your information as soon as possible by filing a new application.
Here are the list of items that would've qualified you for a new application:
- Your Full Name
- Mailing Address
- Banking information
The deadline to update your information was September 15, 2024. Payments will be issued to the information you have on file with the New Jersey Department of Treasury.
Note: If your home was purchased in 2021, or if you altered your deed or had other life changes such as divorce or the death of a spouse, you must file using the Special Circumstance Application instead of the new application form.
ANCHOR application extended deadline: There's still time
Several eligibility requirements come with the ANCHOR program, including:
- Being a New Jersey resident
- Your 2021 gross income was not more than $250k as a homeowner and $150k as a renter
- You owned or rented your main home since Oct 1, 2021
- 2021 property taxes were paid on the home, or your rental was subject to property taxes
- If you are a renter, your name was on the lease and you paid the rent
After meeting the eligibility requirements, homeowners or renters can file online with a PIN, identification number (ID), and passcode, or by using the “ID.me” verification button on the state’s website.
If you would like to apply, the deadline for new applicants has been extended to December 6, 2024.
