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Over 700,000 NJ Residents to Receive ANCHOR Property Tax Relief Payments Today
Governor Murphy and Treasurer Muoio emphasize commitment to making New Jersey more affordable for its residents.
NEW JERSEY - Starting today, more than 700,000 New Jersey residents will see a financial boost as Governor Phil Murphy and Treasurer Elizabeth Maher Muoio announce the direct deposit of the first round of the ANCHOR Property Tax Relief payments for the 2020 tax year. Those who opted for paper checks can expect to receive them in the mail starting next week, with the aim of distributing the benefits to nearly all applicants by November 1st. As applications continue to come in, payments will be made on a rolling basis.
Governor Murphy expressed his satisfaction with the program, noting, “For years, property taxes have been one of the most pressing concerns for homeowners across New Jersey. I’m particularly pleased that the latest round of ANCHOR relief payments will be delivered to the vast majority of applicants promptly, courtesy of the Division of Taxation's efficiency.”
Echoing the sentiment, Treasurer Muoio said, “The ANCHOR program is getting money into the pockets of those who need it most at a time when everyone is feeling the effects of higher costs.” Senate President Nick Scutari added, “We are putting money into the hands of homeowners and renters with one of the most significant property tax relief programs in state history.”
Assembly Speaker Craig Coughlin affirmed, “Making our state more affordable is our top priority and we are delivering. New Jersey families can now plan for the future, knowing they’ll have more money each year to meet their needs.”
The ANCHOR program, or the Affordable New Jersey Communities for Homeowners and Renters property tax relief initiative, was introduced last year. It modernized the former Homestead Benefit program, expanding eligibility to include renters and upping the income threshold for homeowners. The benefit was especially extended for senior citizens, both renters and homeowners, this season.
Last filing season, over 1.7 million renters and homeowners availed payments ranging from $450 to $1,500. This year, the benefit for seniors has been upped to a range of $700 to $1,750, while those below 65 will receive between $450 and $1,500.
Residents can check their ANCHOR benefit payment status on the Division of Taxation website. Those who have yet to apply or have not received a confirmation letter are still eligible to file online or via a paper application.
