Update for New Jersey ANCHOR Recipients
Many New Jersey homeowners and renters received property tax relief benefits through the Affordable Communities for Homeowners and Renters (ANCHOR) program earlier in 2023, and the next round of benefits, for tax year 2020, will be coming soon. Changes made to the program will mean an easier application for some and more benefits for others.
While last year eligible recipients had to file an application, this year they will receive a letter confirming their eligibility and notifying them that they do not need to re-apply in order to receive a check or direct deposit, in most cases. The Department of the Treasury’s Division of Taxation began mailing letters in mid-August 2023. The letter includes information about how the recipients will receive their benefits (which will be the same as last year, either check or via direct deposit) as well as confirmation of mailing address and banking information. If this information has not changed, the recipient does not need to take any further action. Benefits will automatically be sent by November 1, 2023. If changes need to be made, however, recipients must file an application by September 30, 2023. Be sure to receive a confirmation number as proof that an updated application was filed.
The Division will also begin mailing applications to two million additional residences in hopes of reaching more people who may be eligible for the benefits. Mailers will be sent out by the end of August 2023. These applications must be filed by December 29, 2023 and benefits will be sent out on a rolling basis within 90 days of filing.
If a resident did not receive a confirmation letter or filing packet but still meets the qualifications for eligibility, they can still apply for the program. Homeowners need an ID and PIN to file online or by phone; renters can file online and do not need an ID and PIN.
Another change to the ANCHOR program is an increase in benefits by $250 for senior homeowners and renters. Homeowners age 65 and older can now receive $1,750, if their annual income is less than $150,000. Homeowners age 65 and older making between $150,000 and $250,000 can receive $1,250. Benefits for other homeowners remain $1,500 for those making up to $150,000 and $1,000 for those making between $150,000 and $250,000. Renters age 65 and older making up to $150,000 can receive $700, while all other renters making the same amount will receive $450.
Over 1.7 million New Jersey renters and homeowners applied for and received property tax relief benefits, ranging from $450 to $1,500, for tax year 2019.