Record 1.5M New Jerseyans to Receive Property Tax Relief Payments

A Record 1.5 Million New Jerseyans to Receive Automatic ANCHOR Payments; Division of Taxation Implements Innovative Changes.Photo byMorristown Minute

Division of Taxation Implements Streamlined Processes to Enhance Property Tax Relief Program

NEW JERSEY - The New Jersey Division of Taxation is preparing to launch the new season of the ANCHOR property tax relief program, with a record 1.5 million residents set to receive automatic payments. The program, which has become a cornerstone of the state’s property tax relief efforts, will see significant improvements this year aimed at simplifying the process for both returning and new applicants.

"Since the launch of the program in 2022, ANCHOR has grown to be one of the most impactful property tax relief initiatives in New Jersey's history," said State Treasurer Elizabeth Maher Muoio. "ANCHOR is inclusive of New Jerseyans at all stages of life, from young people renting their first apartment to retirees living in the place they've called home for decades. Nearly two million people in the Garden State have benefited from ANCHOR, and we hope to see all eligible residents apply for this significant property tax relief."

Starting August 19, the Division will begin mailing ANCHOR Benefit Confirmation Letters to approximately 1.5 million homeowners and renters who received benefits last year. These letters will confirm their automatic eligibility for this season's payments, eliminating the need for most to reapply. However, if there have been changes in personal details, such as name, address, or banking information, since the last payment, recipients must submit a new application by September 15, 2024, through the program's website, anchor.nj.gov.

Payments will be issued on a rolling basis starting in November, with a final application deadline of November 30, 2024.

In addition to automatic filings for previous beneficiaries, the Division is making a concerted effort to reach eligible homeowners and renters who have not yet applied. Beginning August 26, ANCHOR Application Mailers with detailed application instructions will be sent to over two million households across the state.

This year marks the third consecutive season of the ANCHOR program, which last year distributed over $2.1 billion in property tax relief—the largest such initiative in New Jersey’s history. Benefits from the 2020 tax year ranged from $450 to $1,500, with an additional $250 for applicants over the age of 65.

To enhance security and prevent fraud, the Division has introduced an extra layer of identity verification for certain applicants. Those who are new to the program, need to retrieve their ANCHOR ID/PIN, or did not receive a confirmation letter will need to verify their identity through ID.me or in person at a Regional Information Center.

To reduce reliance on paper applications, the Division has also launched a new online application platform, enabling applicants to securely upload any necessary documents. Paper applications remain available for those who need them, but the move to digital is intended to make the process more convenient and accessible.

To better support applicants, the Division has doubled the number of agents available at the ANCHOR hotline and introduced an automatic callback feature to reduce wait times. Residents seeking assistance can visit anchor.nj.gov or call the hotline at (609) 826-4282 or 1-888-238-1233. In-person help is also available at Regional Information Centers.

With these innovations, the Division of Taxation aims to make it easier than ever for New Jersey residents to benefit from the ANCHOR program, ensuring that property tax relief is accessible to all who qualify.

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