Do you rent or own a home in New Jersey? If yes, here’s some good news! There’s still time to file for NJ ANCHOR property tax relief.
What Is ANCHOR?
ANCHOR is the Affordable NJ Communities for Homeowners & Renters program. Enacted in June 2022, this program aims to provide homeowners and renters property tax relief. Approximately 1 million homeowners and renters will receive up to $1,500 and $450 in benefits.
Are You Eligible?
If you are a resident in NJ in making income of $150,000 or less you are eligible for the ANCHOR benefits.
[See additional qualifications here]
How Do You Apply?
While there is a paper application option, the most convenient way to apply for ANCHOR benefits is online [Apply Here]. The online application is very easy to understand and complete. The hardest part for me was finding my 2019 NJ gross income. You will need this information to complete the application.
When Is The Deadline?
The deadline for applications is February 28, 2023. All applications after this date are considered late.
When Will You Receive Benefits?
Benefits will be distributed via check or direct deposit late spring 2023. According to the NJ Treasury website, benefits can be expected no later than May 2023.
My Experience:
I procrastinated for a month before filing the application for the ANCHOR benefit. I started the application on January 23, 2023 after receiving a notice in the mail. Though I took so long to submit the application it really can be completed in a 10-15 minutes sitting. Information needed included the address where my rental apartment was located in 2019, my 2019 NJ gross income, and banking information to deposit my benefit. If you do not have access to your 2019 tax return information, then there is an alternative explained clearly on the NJ Treasury website. It will take several weeks to process the application but be sure to look out for your benefit in late spring. I know I will be!
If you haven’t yet, There’s still time to file for NJ ANCHOR property tax relief! It’s so expensive living in NJ. It wouldn’t hurt to have some extra cash coming your way. Especially if that cash is nontaxable.
Check out theses two awesome blogs for more tax information [Tax Credits To Take Advantage Of Now] and [What You Need To Know About Taxes]
Where Can You Find More Information?
ANCHOR Call Center Hours: 609-826-4282 (everywhere) or 1-888-238-1233
FAQs
- Homeowners [CLICK HERE]
- Renters [CLICK HERE]
Application [CLICK HERE]
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