NEW JERSEY – Governor Phil Murphy and Treasurer Elizabeth Maher Muoio announced that the first round of ANCHOR Property Tax Relief payments for tax year 2020 were deposited on Thursday for more than 700,000 New Jerseyans who elected to receive their payment via direct deposit.
For those who elected to receive a paper check, benefits will begin to be mailed out starting next week. Nearly every ANCHOR applicant who has applied to date should receive their benefit by Nov. 1st and payments will continue to be made on a rolling basis as eligible residents apply.
“For years, property taxes have been one of the most pressing concerns for homeowners across New Jersey,” Murphy said. “Together, with our partners in the Legislature, we are making New Jersey significantly more affordable for millions of households. I’m particularly pleased that the latest round of ANCHOR relief payments will be delivered to the vast majority of applicants in a much more timely fashion thanks to the efficiencies employed by the Division of Taxation.”
“A major goal from the very beginning of this administration has been to make New Jersey a more affordable place to live, work and raise a family,” Muoio said. “The ANCHOR program is getting money into the pockets of those who need it most at a time when everyone is feeling the effects of higher costs.”
The Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) property tax relief program was instituted last year by the Governor and Legislature. It updated and expanded upon the former Homestead Benefit property tax relief program by extending eligibility to renters for the first time in a generation, as well as increasing the income threshold for eligible homeowners. The funding was continued in the current fiscal year and payouts were increased for seniors 65 and over who both rent and own their homes.
Last filing season more than 1.7 million renters and homeowners applied for and received a payment ranging from $450 to $1,500 under the program covering the 2019 tax year. This season, the number of applicants is expected to grow and the payment for seniors has been increased by $250 and will now range from $700 to $1,750, while those under 65 will receive between $450 and $1,500.
To check the status of your ANCHOR benefit payment, please go to the Division of Taxation website and use the online status inquiry tool. The Division asks that applicants please use the online tool first before calling the hotline.
There is still time to file for your ANCHOR tax rebate. If you have not filed and you did not receive a benefit confirmation letter, you can still file an application online, or by using a paper application, which can be found here.