The Final Countdown for ANCHOR Rebate Applications : As the deadline for the ANCHOR (Affordable New Jersey Communities for Homeowners and Renters) property tax rebate program approaches, New Jersey residents are urged to act swiftly. The cutoff date to file your application is December 29, 2023.
Eligibility and Application Process
Eligibility for the ANCHOR rebate hinges on certain criteria based on the 2020 tax year. 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 that date, subject to local property taxes, with a gross income of $150,000 or less.
If you received a green or purple filing packet, follow the instructions within to apply. Homeowners who did not receive a packet but meet the 2020 residency, income, and age qualifications can still apply. Most homeowners can file online or by phone using an identification number and PIN.
Renters may file online without needing an ID and PIN. Those who purchased a home in 2020, changed their deed, or experienced life changes such as divorce or the death of a spouse must file by mail.
Rebate Amounts
The ANCHOR program offers varying rebate amounts:
- Homeowners with incomes up to $150,000 are entitled to a $1,500 rebate.
- Homeowners earning between $150,000 and $250,000 can receive a $1,000 rebate.
- Renters with incomes up to $150,000 are eligible for a $450 benefit.
- Residents aged 65 or older qualify for an additional $250 benefit.
What to Do If You Haven’t Filed Yet or Haven’t Received Your Money
If you haven’t filed yet, it’s crucial to do so before the deadline. If you have filed but haven’t received your rebate, it’s important to follow up. Contact the ANCHOR hotline at 609-826-4282 or 1-888-238-1233 for assistance or to schedule an in-person appointment at a Division of Taxation field office.
Payment and Timeline
Most rebates are paid via direct deposit, although applicants can opt for a paper check. Payments will continue to be issued on a rolling basis after the deadline, with most applicants expected to receive their payment approximately 90 days after filing, unless additional information is required for processing the claim.
Conclusion
The ANCHOR rebate deadline is a critical opportunity for eligible New Jersey residents to claim their property tax relief. By understanding the eligibility criteria, following the correct application process, and ensuring timely submission, applicants can secure their financial benefits.
The program underscores the state’s commitment to providing essential tax relief to its residents, emphasizing the importance of such initiatives in supporting the economic well-being of individuals and families.