The ANCHOR (Affordable New Jersey Communities for Homeowners and Renters) program is a property tax relief initiative for New Jersey residents. It is designed to provide financial rebates to eligible homeowners and renters within the state. As of the 2023 filing season, the program is focused on providing benefits based on the 2020 tax year.
Eligibility Criteria
To qualify for the ANCHOR property tax rebate, applicants must meet specific residency, income, and, in some cases, age requirements:
- Homeowners must have owned and occupied a home in New Jersey as their primary residence as of October 1, 2020, with a gross income of $250,000 or less.
- Renters must have rented and occupied a principal rental residence on October 1, 2020. The rental property should have been subject to local property taxes, with a gross income of $150,000 or less.
Rebate Amounts
The rebate amount varies based on income and status:
- Homeowners earning up to $150,000 receive a $1,500 rebate. Those with incomes between $150,000 and $250,000 are eligible for a $1,000 rebate.
- Renters with incomes up to $150,000 are entitled to a $450 benefit.
- Additionally, residents aged 65 or older are eligible for an additional $250 benefit.
Application Process
The deadline for applying for the ANCHOR rebate is December 29, 2023. Here’s how you can apply:
- Taxpayers who received a green or purple filing packet should follow the packet’s instructions.
- Most homeowners can apply online or by phone using an identification number (ID) and PIN.
- Homeowners who bought their home in 2020, altered their deed, or had certain life changes (like divorce or death of a spouse) must apply by mail.
- Renters can apply online without needing an ID and PIN.
If You Didn’t Receive a Letter or Lost It
If you believe you’re eligible but haven’t received your money, contact the Division of Taxation. The ANCHOR hotline is available at 609-826-4282 or 1-888-238-1233. Additionally, you can schedule an in-person appointment at a Division of Taxation field office.
Payment Method and Timeline
Most benefits are paid via direct deposit, though applicants can choose a paper check, which may take longer to process. Payments will continue to be distributed after the application deadline until all eligible applicants have received their benefit. The first large batch of ANCHOR benefits is expected to start on January 2, 2024. If you haven’t received your benefit by January 12, 2024, contact the Division of Taxation.
Avoiding Scams
Be cautious of scammers. The Division of Taxation will never initiate a text exchange to request personal information regarding your ANCHOR benefit. If you receive suspicious communications claiming to be related to the ANCHOR program, contact the Division directly before providing any personal information.
Troubleshooting
If you applied but didn’t receive your benefit, the issue might be due to incorrect or incomplete information on your application. Changes in eligibility status, such as updated information or unsettled debts like child support, could also affect your benefit receipt. In case of any discrepancies, you will be notified by the State.
Conclusion
The ANCHOR property tax rebate offers significant financial relief to eligible New Jersey residents. By understanding the eligibility criteria, following the correct application process, and being vigilant against scams, you can effectively claim your rightful benefit. Remember, the application deadline is imminent, so act promptly to ensure you don’t miss out on this opportunity