$2B Tax Rebate Deadline Extended: When Will NJ Residents Get ANCHOR Payments?

NEW JERSEY — State officials once again extended the deadline to apply for New Jersey's new, $2 billion property tax rebate. Eligible residents now have until Feb. 28 to file for the ANCHOR program (Affordable New Jersey Communities for Homeowners and Renters).

The state originally set a Dec. 30 deadline to apply for the ANCHOR benefit, which replaces the Homestead Rebate as New Jersey's primary program for property tax relief. But in mid-November, officials extended the deadline to Jan. 31.

In Tuesday's State of the State Address, Gov. Phil Murphy announced another extension for filing, pushing the application deadline to Feb. 28.

State treasury officials don't expect the extension to delay payments. The Division of Taxation still promises to issue rebates beginning in late spring, no later than May.

"There is no change to when the payments will go out," Melinda Caliendo, a spokesperson for the state treasury, told Patch. "Eligible applicants can expect their rebate, in the form of a check or direct deposit, in late spring."

About 2 million residents qualify for relief under the ANCHOR program, including renters who weren't eligible for the Homestead Rebate. The benefit is for 2019, so residents should file with their primary residence from Oct. 1 of that year.

The average benefit is $971 for each eligible resident: Homeowners with a household income of less than $150,000 can get a $1,500 rebate. Homeowners with a household income between $150,000 and $250,000 can receive $1,000. Renters with incomes up to $150,000 will receive $450 each.

Filing closer to the deadline won't delay your payment, according to the treasury.

Murphy has centered the ANCHOR program amid his promises to make New Jersey more affordable.

"A middle-class family making our state’s average household income of just under $125,000 and paying our statewide average of $9,300 in property taxes is going to receive $1,500 in direct relief — effectively dropping their property taxes to a level not seen since 2011," Murphy said Tuesday.

The Garden State had the nation's 10th-highest cost of living in the third quarter of 2022 — 15.3 percent higher than the national average — according to recent data from The Council for Community and Economic Research.

But Republican lawmakers claim the Murphy administration hasn't done enough to mitigate the financial burdens of residents and businesses.

"Murphy’s rosy picture of New Jersey as a progressive paradise is our everyday nightmare," said Alexandra Wilkes, communications director for the New Jersey Republican Party. "It is more difficult than ever to afford to put food on the table, heat our homes, and run a business."

Here's filing info and the treasury's FAQ page for the ANCHOR program.