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The Bergen Record
NJ ANCHOR payment coming; what to know about your rebate
By Damon C. Williams, USA TODAY NETWORK,
4 hours ago
New Jersey homeowners and renters will soon receive either first-time or renewal applications for the Communities for Homeowners and Renters — ANCHOR — program, established to provide relief for the majority of New Jerseyans who meet the income threshold.
Here's what you need to know about the application, including the filing deadline and how much you can expect to receive.
What is New Jersey's ANCHOR program?
According to the New Jersey Division of Taxation , the ANCHOR program offers property tax relief to New Jersey residents who own or rent property in New Jersey, use it as their main home and meet certain income limits.
This year's ANCHOR benefit is based on residency, income, and age from 2021.
CountyOffice.org also published a video that further explained the general nuances of the ANCHOR program:
New Jersey homeowners who were younger than 64 in 2021 and have a gross income of less than $150,000 will receive $1,500. Those homeowners who were 65 or older in 2021 will receive $1,750.
New Jersey renters who were 64 and younger in 2021 will receive $450, while reenters who were older than 64 in 2021 will receive $700.
You will receive your ANCHOR benefit a few weeks after your application has been filed and accepted.
"We will start distributing ANCHOR benefits in the fall, and continue on a rolling basis," read New Jersey's ANCHOR information website. "Most applicants will receive their payment about 90 days after applying, unless additional information is needed to process the application."
Damon C. Williams is a Philadelphia-based journalist reporting on trending topics across the Mid-Atlantic Region.
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