Important update about NJ’s ANCHOR property tax relief program

💲 NJ residents should soon receive their ANCHOR property tax relief payments

💲 Are you eligible?

💲 Find out what's the same and what's new this year

TRENTON — This week, the New Jersey Department of the Treasury’s Division of Taxation began mailing Affordable New Jersey Communities for Homeowners and Renters, or ANCHOR, property tax relief confirmation letters to about one million residents.

What do residents need to know?

According to the state Department of the Treaury, most past recipients will again have their applications automatically filed.

However, taxpayers who need to change their address or bank account information, or who choose to receive a paper check instead of direct deposit, must submit a new application by Sept. 15.

For those who have never filed for the ANCHOR property tax relief, those applications are due no later than Oct. 31.

Last year’s ANCHOR program delivered $2.1 billion in benefits to 1.8 million residents, according to the state Department of the Treasury.

“Making New Jersey more affordable has been our mission from the start. The ANCHOR program continues to ease property tax burdens for millions of residents, and I’m grateful to Treasury staff for ensuring this process is simple and efficient,” said Gov. Phil Murphy.

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What is new about the ANCHOR program this year?

This year, the State Department of the Treasury’s Division of Taxation will no longer mail ID/PINs to applicants.

Instead, they must verify their identity through ID.me when applying online.

The Division will also not auto-file the Property Tax Relief Application (Form PAS-1) for  residents age 65 and older, or those on Social Security disability.

Those residents must submit their own PAS-1 form online or by paper, even if applying only for the ANCHOR benefit.

Who is eligible?

Homeowners must have owned and occupied a home in New Jersey as their primary residence on Oct. 1, 2024. Their gross income for 2024 must not have exceeded $250,000, and their home had to have been subject to property taxes.

Renters must have rented and occupied a residence in New Jersey as their primary residence on Oct. 1, 2024. Their gross income for 2024 must not have exceeded $150,000. Renters’ names must have been on the lease or rental agreement, and they must have paid rent. The rental property must have been subject to local property taxes.

Payments

Check your direct deposit or your mailbox next month. Payments will be issued on a rolling basis starting Sept. 15, the state Department of the Treasury said.

Most applicants will receive their benefits within 90 days of filing, unless more information is needed, according to the state Department of Treasury.

If you want to check the status of your ANCHOR benefit, simply log in here.

Benefits range from $450 to $1,750 for renters or homeowners, depending on a resident’s income level.

“Since its inception, ANCHOR has provided meaningful relief for homeowners and renters across the state. It’s a straightforward program with a direct benefit, and we want to help ensure that every eligible resident takes advantage of it,” said State Treasurer Elizabeth Maher Muoio.

Anyone with questions can visit here or call 609-826-4282 or 1-888-238-1233. A new callback option is available to reduce wait times.

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