ANCHOR Tax Rebate: New Date For Payments

NEW JERSEY — More than 1 million homeowners and renters in New Jersey can count on a property tax rebate check before Election Day this year in the second year of the Affordable Communities for Homeowners and Renters (ANCHOR), said treasury officials.

Also, if the program is renewed for additional years in the state budget, residents who qualify could see checks every November — as the Department of the Treasury confirmed to Patch that "ANCHOR is intended to be an annual program."

Last 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 1.7 million people applied, and the vast majority of these people won't have to apply again to get benefits this year.

The payment amount increased for this year, too — up to $1,750 for homeowners and $700 for renters, as laid out in the Fiscal Year 2024 budget.

Payments for the first year of the program went out in late March, but residents won't have to wait that long this year — and will get their second ANCHOR rebate by early November, said Department of the Treasury officials.

And in a year when all 120 of New Jersey's legislative seats are up for election, some Republicans are accusing Gov. Phil Murphy of "playing Santa Claus" right before people go out to vote, sending out more money just seven months after the first rebate checks came through.

Sen. Michael Testa (R-NJ-1) was one of the legislators criticizing the "convenient" timing of the payments, as quoted in the New Jersey Monitor:

“I think this is Governor Murphy, yet again, playing Santa Claus right before an election where, quite frankly, the Democrats are spiraling out of control,” Testa said.

The Department of the Treasury said that more than 1.3 million residents who got a rebate last year should get a letter soon, confirming they are eligible for this year’s ANCHOR program.

The residents who receive these letters will not have to re-file an application to get their tax relief money this year, officials said. The Division of Taxation began mailing benefit confirmation letters to these residents on Aug. 16, officials added.

If recipients have not moved or changed their bank information/other qualifying information since last year, their benefits should be automatically distributed by Nov. 1, said Treasury officials. The money will arrive via check or direct deposit, matching their choice from last year.

“The Division of Taxation has worked diligently to build off the success of last year’s ANCHOR program and ensure every eligible New Jersey resident receives this crucial property tax relief,” said State Treasurer Elizabeth Maher Muoio. “We’re pleased to be able to distribute benefits automatically to many ANCHOR eligible households this year, making the process far more simple and convenient for the majority of qualifying homeowners and renters.”

Recipients who need to change their mailing address, bank account number, or other qualifying information outlined in the letter must make updates in the online ANCHOR portal by Sept. 30. Then, benefits will be distributed on a rolling basis within 90 days of filing.

And, another 2 million homeowners and renters may be eligible to apply for the second year of the program, which pays up to $1,500 in tax rebates.

The application will use 2020 tax data. 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.

Sen. Declan O'Scanlon (R-NJ-13) also questioned the timing of the payouts, according to NJ Advance Media.

“Of all the 52 to weeks a year, that week? Give me a break,” he is quoted as saying.

A spokesperson for the governor's office denied these claims of politically-expedient timing, and said the Division of Taxation "worked non-stop to come up with a solution this year that will allow us to get these benefits out more quickly and in a much more user-friendly way for taxpayers,” per the New Jersey Monitor.

“First critics of Anchor voted against it, now they’re complaining that relief is coming out too soon," said spokesperson Jennifer Sciortino. "It sounds like they just aren’t happy that the administration and legislative leadership are working together to make New Jersey more affordable.”

Related articles:

• New NJ Property Tax Relief Plan Extended: What To Know
• ANCHOR Tax Rebate: Eligibility Expands, Application Process Changes