New Jersey ANCHOR Program: what it is and who can be beneficiaries
We share with you everything you need to know about the New Jersey ANCHOR program: what it consists of, who can be beneficiaries, and when the aid is sent.
The New Jersey State Government has announced a new property tax relief program for homeowners and renters who own or rent their primary residence on October 1, 2019. Here’s everything you need to know about New Jersey’s Affordable Communities for Homeowners and Renters (ANCHOR) program.
New Jersey ANCHOR Program: what it is and who can benefit
ANCHOR provides up to $1,500 in tax relief to eligible homeowners and up to $450 in tax relief to eligible renters. This program replaces the Homestead Benefit.
The deadline to apply for this benefit is December 30, 2022. According to the official program portal, payments will be sent by the end of spring 2023 by direct deposit or check via mail .
Who is eligible for the program?
ANCHOR is for residents of New Jersey who owned or rented their primary residence on October 1, 2019 and who meet the following income guidelines:
- Homeowners with incomes of $150,000 or less will receive $1,500
- Homeowners with an income of more than $150,000 and up to $250,000 will receive $1,000
- Tenants with incomes of $150,000 or less will receive $450
A homeowner is considered to be someone who by October 1, 2019:
- Homeowner
- Owned a condominium and paid property taxes
- Era un accionista residente de un complejo de viviendas cooperativas
- Was a resident of a continuing care retirement community
A tenant or lessee is considered to be a person who, as of October 1, 2019:
- Rented an apartment, condominium or house
- rented or owned a mobile home located in a mobile home park
How to apply for the ANCHOR program?
There are separate processes for landlords and renters, both of which can apply online or by phone at 1-877-658-2972. Homeowners need an ANCHOR ID and PIN to apply online or by phone. Certain homeowners must submit a paper application.
For more information visit the official portal of the program.