Application Deadline Nears For NJ's ANCHOR Property Tax Rebate Program

NEW JERSEY — Homeowners and renters can still apply to get a share of New Jersey’s ANCHOR program, which has paid out close to $2 billion in property tax relief so far this year.

The state said it has processed payments for 1,139,470 homeowners and 494,012 renters as of Monday morning, totaling more than $1.9 billion.

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 in property tax relief 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.

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.