Program deadline extended to Feb. 28
BURLINGTON COUNTY, NJ — Burlington County lawmakers Senator Troy Singleton and Assembly Members Dr. Herb Conaway and Carol Murphy are urging residents to sign up for the ANCHOR property tax relief program.
The ANCHOR — the Affordable NJ Communities for Homeowners & Renters — program will provide property tax relief to double the amount of homeowners while renters will also benefit for the first time in years. Under the program, $2 billion in property tax relief will be distributed to more than two million eligible homeowners and renters accordingly.
“Simply put, the ANCHOR program is direct property tax relief, and it is important that all eligible homeowners and renters file their applications as soon as possible,” said Singleton.
Homeowners with a household income of up to $250,000 will receive up to $1,500 in property tax credit annually and renters making up to $150,000 will receive $450 annually to help offset potential rent increases.
“In January, the deadline to claim property tax relief under the ANCHOR program was extended giving homeowners and renters across the state—including Burlington County residents—an extra month to apply for their rebate,” said Murphy. “If you are eligible for the program and have yet to claim your property tax relief, I urge you not to leave this money on the table. Take advantage of the ANCHOR program by filling out your application today.”
The application deadline for homeowners and renters to apply is now February 28.
“Thousands of New Jersey taxpayers have already claimed up to $1,500 under the state’s ANCHOR program and there is still time for eligible residents to get their applications in before the February 28 deadline. This program is designed to put money back in the pockets of homeowners and renters,” said Conaway. “We want to make sure everyone who qualifies for the ANCHOR program has the opportunity to claim their rebate and secure direct financial support.”
The ANCHOR program replaces the Homestead Rebate program that thousands of residents previously received each year.
To be eligible for this year's ANCHOR program benefit, residents must have rented or owned their primary residence on October 1, 2019, and file or be exempt from New Jersey income taxes. Eligible homeowners can apply online, by phone, or via paper application, which can be downloaded online and returned by mail. However, tenants may only apply online, or download the application from the Taxation website and return by mail.
“If anyone needs assistance filing their application or getting their PIN, please contact our offices for help before the February 28th deadline," added Singleton.
Payments will begin going out in late spring, regardless of when taxpayers file. They will be issued in the form of checks or direct deposits and are not subject to federal or State income tax.
For more information about the ANCHOR program visit https://nj.gov/treasury/taxation/anchor/ or call the ANCHOR hotline at 1-888-238-1233.