New Jersey ANCHOR Program Gives Homeowners and Renters Up to $1,750 in Property Tax Relief

The state's ANCHOR program offers tax relief up to $1,750 for New Jersey residents who submit applications by Oct. 31. This aid targets both property owners and tenants who fit specific financial and age criteria.

Payment amounts shift based on status and age. Senior property owners can claim $1,750, while younger owners get $1,650. Tenants over 65 receive $700, and younger renters qualify for $450.

Income caps determine who gets help. Property owners must stay under $250,000 in yearly earnings for 2024. The cap drops to $150,000 for those who rent.

Rules state property owners must have lived in their New Jersey homes since Oct. 1, 2024, with proof of tax payments. Tenants need their names on valid leases for units where landlords pay property tax.

Money started flowing on Sept. 15. Most applicants wait about three months for funds. Online forms unlock direct deposits, but those filing paper forms get checks.

ANCHOR, short for "Affordable New Jersey Communities for Homeowners and Renters" aims to cut down what residents spend on property taxes.

Non-seniors without disability status faced a Sept. 15 cutoff to pick payment methods if they got auto-file letters. This applied to both bank transfers and paper checks.

A web tool lets users track their payments. Questions? The help line at 1-888-238-1233 stands ready.