Categorized | 1 News Release, Notices

NJ ANCHOR Program

Posted on 31 August 2023.

For complete information, go to NJ Divison of Taxation website: https://www.state.nj.us/treasury/taxation/anchor/

Affordable New Jersey Communities for Homeowners and Renters (ANCHOR)

This program provides property tax relief to New Jersey residents who own or rent property in New Jersey as their principal residence and meet certain income limits. The current filing season for the ANCHOR benefit is based on 2020 residency, income, and age.

HOMEOWNERS Eligibility requirements

You are eligible if you met these requirements:

  • You were a New Jersey resident; and
  • You owned and occupied a home in New Jersey that was your principal residence (main home) on October 1, 2020; and
  • 2020 property taxes were paid on that home; and
  • Your 2020 New Jersey gross income was not more than $250,000.

Filing Deadline

If you received the ANCHOR Benefit Confirmation Letter notifying you that you qualify and you do nothing else, we will file the application for you and pay the benefit based on information in that letter. However, if you need to change any information, you have until September 30, 2023, to file an application on your own.

All other applicants have until Friday, December 29, 2023, to file applications.

RENTERS Eligibility  requirements

You are eligible for an ANCHOR benefit based on 2020 residency, income, and age, if you met these requirements:

  • You were a New Jersey resident; and
  • Your 2020 New Jersey gross income was not more than $150,000; and
  • Your name was on the lease or rental agreement; and
  • You paid rent; and
  • You rented and occupied a residence in New Jersey that was your principal residence (main home) on October 1, 2020; and
  • The rental property was subject to local property taxes, (see Qualified and Non-Qualified Rental Properties).

Filing deadline

If you received the ANCHOR Benefit Confirmation Letter notifying you that you qualify and you do nothing else, we will file the application for you and pay the benefit based on information in that letter. However, if you need to change any information, you have until September 30, 2023, to file an application on your own.

All other applicants have until Friday, December 29, 2023, to file applications.

 

 


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