Recommendation

ANCHOR Property Tax Relief Program Deadline to Apply Expanded, Increased Eligibility

An extended timeline and increased eligibility will bring property tax relief to over 1 million homeowners and over 900k renters.

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The State of New Jersey is extending the application deadline and expanding eligibility for the new ANCHOR property tax relief program.

The application deadline is being extended to January 31, 2023, giving taxpayers an extra month to apply.

Tenants (renters) who had previously been ineligible because their unit is under a PILOT (Payment in Lieu of Taxes) agreement are now eligible to apply for the benefit.

Treasury’s Division of Taxation is also actively soliciting proposals for a statewide marketing and advertising campaign to build upon the organic promotional efforts that have been undertaken to date in order to increase general awareness of the new program, make sure tenants know they are eligible, and make taxpayers aware of the new changes.

For the residents of New Jersey, affordability is the most pressing issue and property taxes are the greatest burden,” said Senate President Nick Scutari. We are making use of resources to address this need by helping homeowners and renters with direct financial assistance. Extending the deadline will give our residents a greater ability to take advantage of a program that will help make their lives more affordable.”

I am very grateful to the Governor, Senate President, Speaker and Treasurer for responding as quickly as they have to make renters in buildings with a PILOT eligible for the Anchor Program," said Senator Joe Vitale. "I alerted them to the issue immediately after receiving a call from a constituent who pays market rate rent in a building whose occupancy is dedicated to veterans. Within two weeks they are announcing a fix to the problem. This is another great example of how one person’s decision to take action will make a difference for thousands of New Jersey renters and ensure this important tax relief reaches everyone it is intended to reach."

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), doubling the number of homeowners and adding 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; 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.

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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