New Jersey residents who successfully applied for property tax relief will soon be receiving their checks from the state government.
Affordable New Jersey Communities for Homeowners and Renters (ANCHOR), run by the New Jersey Division of Taxation, entitles eligible homeowners and certain renters to direct payments of up to $1,750.
The deadline to apply for ANCHOR checks was October 31, and most residents should expect to receive payment within 90 days of their application.
Why It Matters
While not every Garden State resident will be entitled to the maximum payment, the checks will provide meaningful relief to residents that have this year grappled with sticky inflation and broader financial strains. Residents of New Jersey in particular already contend with a cost of living that sits well above the nationwide average.
What To Know
The ANCHOR property tax relief program was officially introduced in 2022, intended to ease the burden of New Jersey’s property taxes, which consistently rank among the highest in the nation.
The program offers senior homeowners as much as $1,750, while homeowners under 65 can receive up to $1,650. Eligible residents include those who owned or occupied a house in the state on October 1, 2024, if their gross annual income is under $250,000. Renters are also eligible if they have an income of less than $150,000.
Homeowners with incomes of $250,000 or less are entitled to a benefit of $1,000, alongside an additional $250 if they are over 65, Marita R. Sciarrotta, director of the New Jersey Division of Taxation, told WHYY in August. She said owners earning under $150,000 will be able to receive $1,500 with an additional $250 for seniors.
“All tenants are entitled to, or eligible for, $450,” Sciarrotta explained. “If they are over the age of 65, they are entitled to another $250.”
What People Are Saying
James Hughes, dean emeritus at the Edward J. Bloustein School of Planning and Public Policy at Rutgers University, told WHYY that ANCHOR benefits lower-income households who he said are “living on the edge right now, they’re really stretched.”
“We’re in a higher inflation era both now with high energy costs and for what may be coming, because of the tariffs, any benefit they can receive will be helpful,” he added.
What Happens Next
The New Jersey Division of Taxation said the rollout of the ANCHOR payments began on September 15. Payments may be sent via direct deposit or check, depending on the option requested during the application process. Applicants can check the status of their payments on the state government website.
