More than 379,000 New Jersey residents have received ANCHOR payments, totaling over $520 million in property tax relief, with more checks going out weekly. The deadline to apply is November 2.
New Jersey ANCHOR payments are officially paying out, and the numbers are turning some heads.
According to the state Treasury Department, about 379,000 residents have received ANCHOR payments so far, totaling more than $520 million in property tax relief statewide. Broken down, more than $489 million went to ~335,000 homeowners, while more than $31 million went to ~44,000 renters, according to NJ.com.
This is only the first wave. So, if you’re still expecting a check, payments go out weekly.
Why Your Payment Might Look Smaller Than You Expected
If your check seemed lower than you remembered, you’re not imagining things.
Eligible homeowners earning up to $150,000 will receive $1,500, while those earning up to $250,000 will receive $1,000. But this year, no senior homeowner will receive the extra $250 bonus payment they’ve gotten in years past. That bonus was eliminated when the Legislature passed the newest state budget in the summer.
Senior renters, however, will still receive the $250 bonus on top of the $450 base ANCHOR benefit—meaning the number should be the same as the previous year.
A Small Bonus Some Taxpayers Might Notice
On the flip side, some taxpayers might spot a welcome surprise—an unexpected $50 tacked onto their payment. That comes from a property tax credit some residents are owed. If you didn’t file a return, the Treasury Department automatically folds that credit into your ANCHOR payment instead.
Haven’t Gotten Yours Yet? Here’s What to Do
If you haven’t received a payment or a letter from the state confirming your automatic enrollment, you will need to apply manually.
Seniors—both homeowners and renters—need to complete the PAS-1 application. If you’re under 65, you’ll file the ANC-1 application instead. Both applications can be found here. You can also check the status of your benefit at the same link.
Once you apply, expect around a three-week wait for your status to update online. Paper applications take up to 12 weeks.
The deadline to apply is quickly approaching on November 2. Get those applications in, and get paid.
Lifelong Jersey resident and Rutgers and FDU alumnus, Tom La Vecchia is publisher of New Jersey Digest, one of the state’s leading lifestyle media brands. When he’s not growing the Digest, he’s raising four kids, wrangling four cats and pretending it’s all under control. His mission: keep Jersey interesting and impossible to ignore.
