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1.3 Million New Jerseyans to Receive Automatic Property Tax Relief Through ANCHOR Program
The Department of the Treasury's simplification of the ANCHOR program means over a million recipients will not have to reapply, while applications will be mailed to millions more potential beneficiaries next week.
NEW JERSEY - The New Jersey Department of the Treasury announced a significant development in property tax relief on Tuesday. Over 1.3 million taxpayers who benefited from the Affordable Communities for Homeowners and Renters (ANCHOR) program last year will receive a letter confirming their automatic eligibility for this year's benefits.
Who: Over 1.3 million taxpayers in New Jersey, including seniors, homeowners, and renters.
What: Automatic property tax relief through the ANCHOR program, with no need to re-file an application for those who received benefits last year.
When: Benefit confirmation letters began mailing on August 15, 2023, with benefits to be automatically distributed by November 1, 2023. Applications for new applicants will be sent between August 22nd and 28th, with a filing deadline of December 29, 2023.
Where: Across the state of New Jersey.
Why: To simplify the process of obtaining property tax relief and to ensure that eligible residents receive their benefits more easily and promptly.
How: Existing recipients will receive confirmation letters with details of their benefits, and if no changes are needed to their information, the benefits will be automatically distributed. New applications will be mailed to additional eligible homeowners and renters.
“This will no doubt be welcome news for millions of residents across the Garden State,” said Governor Phil Murphy. He further expressed gratitude towards the Treasury and the Division of Taxation for “working around the clock to simplify the road to a more affordable New Jersey.”
State Treasurer Elizabeth Maher Muoio stated that the Division of Taxation had diligently ensured that the process was “far more simple and convenient for the majority of qualifying homeowners and renters.”
Senate President Nick Scutari praised the program as a real benefit for homeowners and renters, emphasizing its importance for senior citizens, while Speaker Craig Coughlin highlighted the state's commitment to making lives more affordable in New Jersey.
The confirmation letters will include detailed information on how recipients will receive their benefit this year, whether via check or direct deposit, and confirmation of their mailing address and bank information. If there are no changes to this information, recipients will not need to file an application.
The state will also mail applications to two million residences to reach additional eligible applicants, who will have until December 29, 2023, to file. Benefits will be distributed on a rolling basis within 90 days of filing.
Last year, the ANCHOR program helped more than 1.7 million renters and homeowners with payments ranging from $450 to $1,500. The enhancement of the program in its second year aims to extend relief to even more New Jersey residents.
Further information is available at anchor.nj.gov.
