Treasury Begins Distributing ANCHOR Property Tax Relief Benefits

Eligible New Jersey homeowners and renters to receive up to $1,750 as payments roll out

TRENTON, NJ – More than one million New Jersey residents are set to receive up to $1,750 this week through the first round of ANCHOR property tax relief benefits, according to the state's Division of Taxation. These payments aim to provide financial relief to eligible homeowners and renters, with distributions occurring on a rolling basis.

The initial wave includes over 900,000 direct deposit payments that hit bank accounts on Thursday, October 10, followed by approximately 100,000 checks mailed on Friday, October 11. The Division of Taxation noted that payments will continue until all eligible applicants receive their funds.

“The ANCHOR program delivers crucial property tax relief to millions of New Jerseyans at all stages of life,” said State Treasurer Elizabeth Maher Muoio.

“We passed the largest property tax relief program in state history, delivering billions for New Jersey families,” said Assembly Speaker Craig J. Coughlin.

This year’s program is streamlined for past recipients, with more than 1.5 million applications automatically filed using information already on record. Many of these recipients received a confirmation letter earlier this summer verifying their continued eligibility. For new applicants, most payments will be issued within 90 days of applying, provided no further documentation is required. The deadline to submit new applications is November 30, 2024, and 225,000 new applications have already been filed.

To track the status of their payments, applicants can visit anchor.nj.gov, where the information is updated twice weekly. Additional assistance is available through the ANCHOR hotline at (609) 826-4282 or 1-888-238-1233, though phone lines may experience high call volumes. In-person help is also offered at Regional Information Centers and community outreach events across the state throughout the fall.

Now in its third year, the ANCHOR program continues to offer significant property tax relief. Last year’s initiative, covering the 2020 tax year, marked New Jersey’s largest property tax relief effort to date, disbursing over $2.1 billion to more than 1.8 million residents. Payments ranged from $450 to $1,500, with additional benefits of $250 provided to applicants over the age of 65.

For more details, including FAQs for homeowners and renters, visit anchor.nj.gov.