by: Allan Zhang
29 Sep 2022

Back in June 2022, we informed you that the State’s Affordable NJ Communities for Homeowners and Renters program (“ANCHOR”) was coming to provide “truly historic” tax relief to property owners and renters. In the words of the venerable soul-stealing sorcerer, Shang Tsung, “It has begun!” (Queue Mortal Kombat theme song).

The ANCHOR program replaces the previous Homestead Rebate Benefit, and increases the benefit amount and the number of eligible applicants. NJ Division of Taxation mailers were sent out to tenants and homeowners starting mid-September.

Homeowners who earn up to $150,000 can receive up to $1,500 while those earning between $150,000 and $250,000 will receive $1,000. Renters earning up to $150,000 will receive $450. Exceptions are if one’s home is completely exempt from paying property taxes or if a Payment-in-Lieu-of-Tax agreement (P.I.L.O.T.) is in place. Payments shall be made in the form of checks or direct deposit by May 2023.

To apply, first see the below eligibility requirements. If you are eligible, apply online, over the phone (1-877-658-2972), or through a paper application. To apply you will need the ANCHOR ID and PIN contained on your Anchor mailer. As a note, it has been reported that there is extremely high call volume and callers have been unable to get past the recorded messages. The Treasury Department stated the hotline is experiencing “incredibly high call volumes, as triple the amount of New Jerseyans are now eligible for the program compared to the Homestead Benefit.” A spokeswoman for the Treasury Department stated calls should expect to wait on line for 30 minutes.

General questions and answers for the ANCHOR program can be found here. More information about the program is also available here.  The DEADLINE to file is December 30, 2022. Happy saving, New Jerseyans!

Eligibility for homeowners is as follows:

  • Been a New Jersey resident; and
  • Owned and occupied a home in New Jersey as principal residence On October 1, 2019; and
  • Paid the 2019 property taxes; and
  • Had 2019 New Jersey gross income of not more than $250,000

If you were not a homeowner on October 1, 2019, you are not eligible for a homeowner benefit, even if you owned a home for part of the year.

Eligibility for renters is as follows:

  • Been a New Jersey resident; and
  • Rented and occupied an apartment or resident in New Jersey that was their principal residence on October 1, 2019; and
  • Lived in a unit with its own separate kitchen and bath facilities; and
  • Paid rent on their main home, which was subject to local property taxes; and
  • Had 2019 New Jersey gross income of not more than $150,000.

You do NOT qualify if you lived in tax-exempt, subsidized, or campus housing.