Trenton – In an effort to ensure that all eligible residents take advantage of the historic ANCHOR property tax relief program, Senator Troy Singleton, Assemblyman Herb Conaway Jr., and Assemblywoman Carol Murphy strongly urge all homeowners and renters to submit their applications prior to the February 28th deadline.
Replacing the Homestead Benefit, the Affordable NJ Communities for Homeowners & Renters (ANCHOR) 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 2 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 Senator Singleton. “If anyone needs assistance filing their application or getting their PIN, please contact our offices for help before the February 28th deadline.”
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 Assemblywoman 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.”
“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 Assemblyman 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.”
To be eligible for this year's benefit, residents must have rented or owned their primary residence on October 1, 2019, and file or be exempt from NJ 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.
Payments will begin going out in late spring, regardless of when taxpayers file. Payments will be issued in the form of checks or direct deposits and are not subject to federal or State income tax.
For more information visit nj.gov/treasury/taxation/anchor/ or call the ANCHOR hotline at 1-888-238– 1233. For anyone not able to get through on the hotline, or still needing assistance, email the legislators at: [email protected], [email protected], or [email protected] .