TRENTON, NJ – New Jersey’s Division of Taxation announced the commencement of the ANCHOR benefit payments starting January 2, 2024. This initiative offers property tax relief to eligible New Jersey homeowners and renters. The program targets residents who occupied their New Jersey property as their principal residence in 2020 and meet specific income and age criteria.
Applicants have until December 29, 2023, to submit their applications. The Division of Taxation anticipates issuing payments in large batches, with most recipients expected to receive their benefits approximately 90 days post-application. However, this timeline might extend if additional information is required for processing.
For homeowners, the application process varies. Those who received a green or purple filing packet must follow the enclosed instructions. Homeowners who qualify based on the 2020 criteria but did not receive a packet can still apply. Most homeowners can apply online or by phone using an identification number and PIN. Exceptions include individuals who purchased a home, altered their deed, or experienced significant life changes like divorce or a spouse’s death in 2020; they must apply by mail.
Renters are encouraged to utilize the online filing option. Unlike homeowners, renters do not require an ID and PIN to apply.
The Division urges applicants to check the status of their benefits online. The Division recommends contacting their office for assistance for individuals who have not received their benefits by January 12, 2024. This program is a step towards providing financial relief to New Jersey’s property owners and renters, reflecting the state’s commitment to affordable living.
Residents can visit the New Jersey Division of Taxation’s official website for further details on the ANCHOR program and the application process.