ANCHOR Payments Arrive Early In NJ: See When You’ll Get Yours

NEW JERSEY —More than half a million Garden State residents can expect money from the state's ANCHOR property tax relief program to hit their bank accounts as soon as Thursday, Gov. Phil Murphy said.

Murphy said that some payments for the 2020 tax year are coming a bit ahead of schedule, with more than 700,000 residents being sent direct deposits Thursday. For those residents who chose to get a paper check in the mail, officials said these benefits "will begin to be mailed out starting next week."

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. They set a target date of the first week of November for the second payments; Murphy confirmed this week that almost every applicant will receive their rebate by Nov. 1.

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.

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

Murphy said he was "particularly pleased" that ANCHOR relief will be delivered to a majority of residents quickly, and praised the Division of Taxation for working to do so efficiently.

“For years, property taxes have been one of the most pressing concerns for homeowners across New Jersey,” Murphy said.

Payments for the first year of the program, which used 2019 tax data, went out in late March. That means many eligible homeowners and renters are getting two payments in 2023.

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.

“A major goal from the very beginning of this administration has been to make New Jersey a more affordable place to live, work and raise a family,” said Muoio. “The ANCHOR program is getting money into the pockets of those who need it most at a time when everyone is feeling the effects of higher costs.”

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.

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.