Extended Deadline for Renters, Homeowners to Claim Up to $1,500 in Relief
During his State of the State Address on January 10, Governor Phil Murphy announced that the State of New Jersey is extending the application deadline for the new ANCHOR property tax relief program.
The new application deadline is being extended to February 28, 2023, giving taxpayers an extra month to apply. The deadline was previously extended to January 31 to allow tenants who had been ineligible because their unit is under a PILOT (Payment in Lieu of Taxes) agreement to apply for the benefit.
“The response to the ANCHOR program has been outstanding, and I am very glad we can extend the deadline so even more New Jerseyans can take advantage of this game-changing program,” said State Treasurer Elizabeth Maher Muoio. “There are still thousands of renters and homeowners out there who haven’t been eligible for property tax relief for nearly a generation who can apply and receive the rebate. We want to make sure we provide every chance for people to get their applications in and get the relief they deserve.”
Under the ANCHOR program, both the size of the benefit and the number of eligible applicants has increased substantially, compared to the previous Homestead Benefit (which ANCHOR is replacing), including double the amount of homeowners and nearly a million tenants who had not been eligible for property tax relief in recent years.
Over 870,000 homeowners with incomes up to $150,000 will receive $1,500 in relief; over 290,000 homeowners with incomes over $150,000 and up to $250,000 will receive $1,000; and over 900,000 renters with incomes up to $150,000 will receive $450 to help offset rent increases.
All 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.
“Affordability is a top concern for New Jersey residents and property taxes create a significant financial burden for working and middle-class families across the state. The ANCHOR program aims to deliver meaningful property tax relief to two million New Jersey households, and we must ensure homeowners and renters who need relief are able to take advantage of the program,” said Assembly Speaker Coughlin. “Further extending the ANCHOR deadline will provide eligible taxpayers with the opportunity to claim their property tax relief, ensuring New Jersey families see money back in their pockets.”
To be eligible for this year's benefit, homeowners and renters must have occupied 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. Tenants can apply online, or download the application from the Taxation website and return it by mail (there is no phone option for tenants, as this is the first time this group will be eligible for property tax relief).
Applicants are encouraged to consult the detailed information posted on the Division of Taxation's website, including an extensive list of Frequently Asked Questions, before calling the ANCHOR hotline. For more information, visit nj.gov/treasury/taxation/anchor/ or call the ANCHOR hotline at 1-888-238–1233.
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