Get Up to $1,500 From the Affordable Communities for Homeowners and Renters Program, Deadline Feb. 28
This a reminder to all who qualify for affordable housing! The deadline for filing your Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) application is February 28, 2023.
This program provides property tax relief to New Jersey residents who owned or rented their principal residence (main home) on October 1, 2019, and met the income limits.
NJ Treasury will begin paying out ANCHOR benefits in the late Spring of 2023. ANCHOR payments will be paid in the form of a direct deposit or check, not as credits to property tax bills.
Homeowners who filed a Homestead Benefit application last year may be able to obtain their ID and PIN numbers online. Renters/Tenants do not need an ID or PIN number to file. Visit the Division's ANCHOR page for all filing information.
Take advantage of the ANCHOR call center, which will have extended hours (Monday through Friday from 8:00 a.m. to 6:00 p.m. and Saturdays from 9:00 a.m. to 3:30 p.m.) through February 28, 2023.
ANCHOR eligibility is as follows:
- Homeowners with income of $150,000 or less will receive $1,500.
- Homeowners with income of more than $150,000 and up to $250,000 will receive $1,000.
- Renters with income of $150,000 or less will receive $450.
How the benefit is calculated:
Homeowners. [See How ANCHOR Benefits Are Calculated and Paid]
- The benefit is calculated using your 2019 New Jersey Gross Income and cannot exceed the amount of property taxes paid. If your 2019 Gross Income exceeded $250,000 you are not eligible.
- 2019 Gross Income (NJ-1040 Line 29) of $150,000 or less = $1,500.
- 2019 Gross Income (NJ-1040 Line 29) $150,001 to $250,000 = $1,000.
Renters. If your 2019 gross income (NJ-1040 Line 29) is $150,000 or less, the benefit amount is $450.
More questions, click here.