New Jersey homeowners and renters who successfully applied for the state’s ANCHOR property tax relief program will soon see their payments arrive.
The Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) program, administered by the New Jersey Division of Taxation, provides eligible homeowners and certain renters with direct payments of up to $1,750.
The application deadline for this year’s ANCHOR benefits was October 31, and most approved applicants are expected to receive their money within 90 days of submitting their forms.
Why It Matters
Even though not everyone will qualify for the maximum rebate, these payments can still make a real difference for New Jersey residents facing stubborn inflation and rising day-to-day expenses. The cost of living in the Garden State is already significantly higher than the national average, and property taxes are a major part of that pressure.
Program Basics
Launched in 2022, the ANCHOR property tax relief program was designed to ease the load of New Jersey’s notoriously high property taxes, which regularly rank among the steepest in the country.
The program currently offers:
- Up to $1,750 for senior homeowners
- Up to $1,650 for homeowners under age 65
To qualify, residents must have owned or occupied a home in New Jersey on October 1, 2024, and have a gross annual income of $250,000 or less.
Renters can also receive benefits if their income is below $150,000.
Homeowners with incomes of $250,000 or less are generally eligible for a base benefit of $1,000, plus an additional $250 if they are 65 or older, according to Marita R. Sciarrotta, director of the New Jersey Division of Taxation, in comments made to WHYY in August. She noted that homeowners with incomes under $150,000 may qualify for $1,500, with an extra $250 for seniors.
“For tenants, the standard benefit is $450,” Sciarrotta said. “Renters who are 65 or older can receive an additional $250.”
What People Are Saying
James Hughes, dean emeritus at the Edward J. Bloustein School of Planning and Public Policy at Rutgers University, told WHYY that the ANCHOR program is especially important for lower-income households who are “living on the edge right now” and feeling financially stretched.
He pointed out that higher inflation, increased energy costs and potential future impacts from tariffs all add to the strain, making even modest relief valuable. “Any benefit they can receive will be helpful,” he said.
What Happens Next
According to the New Jersey Division of Taxation, ANCHOR payments began going out on September 15.
Approved applicants will receive their money either by direct deposit or paper check, depending on the choice they made when applying.
Residents who want to confirm the status of their payment can do so by visiting the New Jersey state government’s official website and checking their ANCHOR application details there.
