Where’s my money? When to expect NJ ANCHOR tax rebate payments

NJ ANCHOR payments will begin “as soon as possible”
The NJ Treasury Department is working on a money distribution plan right now
What to do if you don’t get the money you were expecting

For the past several months the New Jersey Treasury Department worked feverishly to promote and process applications for the ANCHOR property tax and rent relief program.

Now that the application process has closed (on Feb. 28) the Treasury Department is working feverishly to begin making direct deposits and mailing checks to an estimated 1.7 million Garden State households that signed up for the program.

According to Treasury Department spokesman Darryl Isherwood, an exact start date for the monetary distribution has not been set.

Get the money out as soon as possible

He said all payments to homeowners and renters must be made by the end of May but “the intent is to get them out sooner than that, getting them going as soon as possible is the goal.”

That could mean ANCHOR payments begin later this month.

Who gets their money first?

Isherwood said he doesn’t believe New Jerseyans who were the first ones to apply for the ANCHOR program will be the first ones to receive a payment, and the distribution system will not done alphabetically, according to last names.

“I think direct deposit will likely be ready before checks, but I’m assuming it’s random, it’s not like it’s a first in, first out,” he said.

He said ANCHOR applicants will be able to check – starting in a few weeks – on when their payment is scheduled for release at a special website, or by calling 1-877-658-2972.

What if there’s a problem?

Isherwood said once direct deposits begin and checks are mailed, people with questions can call the main ANCHOR information center at 1-888-238-1233.

Under the program homeowner families earning up to $150,000 a year are eligible to receive a $1,500 payment, while families that are renting and also earning up to $150,000 annually will receive $450.

David Matthau is a reporter for New Jersey 101.5. You can reach him at david.matthau@townsquaremedia.com

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