Property Tax Rebates Coming In NJ: Track Your ANCHOR Status

NEW JERSEY — Now that the application period for New Jersey’s new property tax rebate has ended, residents will be wondering when to expect payments — and if they may be eligible for one next year, too.

Earlier this week, Gov. Phil Murphy said upwards of 1.6 million New Jersey households signed up for the first year of ANCHOR, which stands for Affordable New Jersey Communities for Homeowners and Renters.

“ANCHOR is going to effectively take away years of property tax increases,” Murphy said, touting the program in New Milford on Wednesday.

The $2 billion ANCHOR benefit program replaced the Homestead Rebate in 2022 as New Jersey's primary program for property tax relief, and tripled the number of residents eligible for the rebate, officials said.

Murphy said ANCHOR recipients will start seeing direct payments, either as a check or direct deposit, later this month.

And, the Department of the Treasury confirmed that 2024 ANCHOR benefits would be based on tax year 2020 income and residency, if legislators approve the renewal of the $2 billion program included in Murphy’s Fiscal Year 2024 budget. Related article — New NJ Property Tax Relief Plan Extended: What To Know

That would mean close to $4 billion going back to residents over two years, said Murphy.

“Our work is far from done,” he said Wednesday. “There’s a lot more we are doing and we are going to do to alleviate the stress that property taxes put on our residents.”

The NJ Department of the Treasury said applicants will be able to check online and on the telephone about when their payments will be scheduled for release, also “later this month.” There is not an exact date yet for rebates to start rolling out.

“We are reviewing applications as quickly as possible and don’t yet have an exact timeframe for issuing payments,” said Melinda Caliendo, public information officer for the Department of the Treasury, on Thursday.

Applicants can check their ANCHOR status and how much money they will receive (once the application is verified) by clicking here or calling 1-877-658-2972 (press 2).

If you selected direct deposit but wish to have a paper check instead, or need to change direct deposit information, fill out this form.

Once payments begin going out, residents with questions may ask the call center at 1-888-238-1233, Caliendo said.

The program gives rebates of up to $1,500 for homeowners with a household income of less than $150,000. Homeowners with a household income between $150,000 and $250,000 can receive $1,000, and renters with incomes up to $150,000 will receive up to $450 each.

Next year, Murphy said, the state will increase awareness campaigns so more residents know about ANCHOR and can take advantage of it.

“When you put a program like this out, not everybody takes up on it at first,” he said.

Problems with the state’s phone hotline were also plaguing potential applicants in both the fall and winter, and the Division of Taxation began training additional staff to take calls. Several people reported hotline problems on social media in the final days of the application period, too.

The state extended the filing deadline twice.