NJ ANCHOR Program Opens for 2025

In Summary

• The 2025 ANCHOR program opened in August, with the NJ Treasury Department confirming eligibility and informing most taxpayers under 65 (and not receiving disability) that their applications will be filed automatically by the state starting September 15, 2025.
• Combined Application for Seniors: Senior residents or those receiving Social Security disability benefits will now use a single PAS-1 application to claim benefits for the ANCHOR, Senior Freeze (Property Tax Reimbursement), and Stay NJ programs.
• Eligibility is based on 2024 residency, income, and age. Homeowners must have a 2024 gross income under $\$250,000$ (and meet other criteria) and can receive up to $\$1,500$; renters must have a gross income under $\$150,000$ and can receive up to $\$450$. Seniors receive an extra $\$250$.
• Application Deadlines and Changes: filed residents who need to change banking information or payment preference (from direct deposit to paper check) must file their own application by September 15, 2025. Identity verification for self-filers is now done through ID.me instead of mailers.

________________________________________________________________________________________

The State of New Jersey’s Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) property tax relief program officially opened for 2025 in August.  On August 13, the state’s Treasury Department started sending notification letters to New Jersey taxpayers, confirming their eligibility and informing them that their ANCHOR applications will be filed automatically by the state, beginning September 15, 2025.  This year’s ANCHOR benefits are based on the taxpayer’s residency, income, and age from tax year 2024.

Now in its fourth year, the ANCHOR property tax relief program will again see some minor changes from previous years.  For taxpayers under the age of 65 and not collecting Social Security disability benefits (both homeowners and renters), the State will file applications on behalf of most eligible residents, as stated in the letter mentioned above.  If you receive a letter and need to either change your banking information or prefer a paper check this year, though, you will have to file your own application, and this is due by September 15, 2025.  If a taxpayer doesn’t receive a confirmation letter, they can still file their own ANCHOR application.  The State will no longer send out mailers with ID/PIN information to file applications; all applicants must verify their identity through ID.me while filling out the online application.

For senior residents or those receiving Social Security disability benefits, applicants (both homeowners and renters) will now submit a single application that combines the Senior Freeze (Property Tax Reimbursement), ANCHOR, and Stay NJ programs.  The PAS-1 application will help those residents claim all benefits.

The eligibility requirements for homeowners are:

• The taxpayer was a NJ resident
• The taxpayer owned and occupied a home in NJ as their principal residence on October 1, 2024
• The home was subject to property taxes
• The taxpayer’s 2024 NJ gross income did not exceed $250,000

The eligibility requirements for renters are:

• The taxpayer was a NJ resident
• The taxpayer rented and occupied a residence in NJ as their principal residence on October 1, 2024
• The taxpayer’s name is on the lease or rental agreement
• The taxpayer paid rent
• The rental property was subject to local property taxes
• The taxpayer’s 2024 NJ gross income did not exceed $150,000

Payments to eligible taxpayers will begin on or around October 1, on a rolling basis.  These ANCHOR payments will pay eligible homeowners up to $1,500 and renters up to $450, with seniors receiving an extra $250.  The filing deadline this year, unless simply making a change to banking information or check type preference, is October 31, 2025.

Contact Us

If you have questions about the information outlined above or need assistance with another tax or accounting issue, Klatzkin can help. For additional information call 609-890-9188 or click here to contact us. We look forward to speaking with you soon.