ANCHOR Benefits Hit For 1.5 Million NJ Residents: Check Status, Apply

NEW JERSEY — More than 1.5 million renters and homeowners have received their ANCHOR tax refunds for the second year of the program and there is still time to get your share of the rebate.

State officials said that payments started going out Oct. 12 to those residents who got rebates last year, and had their applications automatically renewed.

New applications are due in by Dec. 29, so there is still time to apply using 2020 tax data. Residents can receive between $450 and $1,750 back from the state, depending on their age, income, and residency.

Officials said that new applicants, and those who had to change information from last year's application, will receive payments on a rolling basis. If you applied but have not received a benefit yet, the Division of Taxation has an online lookup to check the status of your payment.

Earlier this year, Murphy and State Treasurer Elizabeth Maher Muoio informed about 1.3 million residents that they would not have to apply for the second year of ANCHOR, which stands for Affordable New Jersey Communities for Homeowners and Renters.

New applicants, and those who had to change information from last year's application, will receive payments on a rolling basis.

"Nearly every ANCHOR applicant who has applied to date should receive their benefit by November 1st and payments will continue to be made on a rolling basis as eligible residents apply," officials said.

The more than 2 million residents who are newly eligible for ANCHOR this year should have received a green or purple filing packet in the mail by Sept. 1 with filing instructions. Applicants have until Dec. 29 to file an application, and benefits will be distributed on a rolling basis within 90 days of filing.

Those who owned or rented their primary residence in New Jersey as of Oct. 1, 2020, and made under a certain income threshold, are eligible.

Click here to inquire about the status of your ANCHOR benefit.

In its first year, the ANCHOR program offered tax rebates ranging from $450 to $1,500 to New Jersey residents making under a certain income threshold. Treasury officials said in total, 1.7 million homeowners and renters applied for, and received, a benefit last year. The average benefit is $971 for each eligible resident, state officials said.

The payment amount increased for this year for seniors — up to $1,750 for senior homeowners and $700 for renters, as laid out in the Fiscal Year 2024 budget. Those under 65 will receive between $450 and $1,500, state officials said.

Related articles:

• Didn't Get ANCHOR Rebate? Here's What May Be Delaying NJ Payments
• ANCHOR Payments Arrive Early In NJ: See When You'll Get Yours