The state of New Jersey is officially sending out property tax relief payments to residents who applied for assistance through the ANCHOR program—and many are already arriving. The payments come at a time when families are stretched thin by high housing costs and a year of economic pressure, making this relief especially welcome for hundreds of thousands of households.
The program delivers direct cash payments to help offset property taxes for qualified homeowners and renters. Homeowners earning $250,000 or less may receive up to $1,750, with senior homeowners set to receive the highest benefit amount. Renters with incomes below $150,000 are eligible for up to $450, with an additional boost for those 65 and older.
Most eligible New Jersey residents submitted applications before the October 31 deadline, meaning the bulk of payments are now in the distribution pipeline. According to the state, payments are issued within three months of an approved application. The first round began in mid-September and continues to roll out via direct deposit or mailed paper checks, depending on what applicants selected. Anyone waiting on their benefit can track the status directly through the New Jersey Division of Taxation.
New Jersey continues to have the highest property taxes in the country, and the ANCHOR initiative—launched in 2022—is designed to help ease that ongoing financial burden. With living expenses still outpacing wages in many communities, officials hope these relief payments will provide a little more breathing room as residents manage rising costs on everything from rent to groceries.
If you applied for ANCHOR this year, you should expect to see your payment soon. The rollout will continue over the coming weeks and months as checks and deposits are processed for all who were approved.
The New Jersey Digest is a new jersey magazine that has chronicled daily life in the Garden State for over 10 years.