Millions of New Jersey residents will soon learn if they qualify for this year’s ANCHOR property tax relief program.
Starting Wednesday, the Division of Taxation will mail confirmation letters to eligible residents, including most homeowners and renters under 65 who are not receiving Social Security benefits. The state will auto-file applications for most in this group, though individuals may submit their own online or paper applications.
Senior residents and those collecting Social Security benefits can apply through the new PAS-1 form, which also covers the Senior Freeze and upcoming Stay NJ programs.
Payments begin Sept. 15 and are issued on a rolling basis, within 90 days of filing. Senior homeowners may receive up to $1,750, while senior renters may get up to $700. Homeowners under 65 can receive as much as $1,500, and renters up to $450, depending on income.
Eligibility is based on residency, income, and housing status as of Oct. 1, 2024. Homeowners must have earned $250,000 or less in 2024, while the limit for renters is $150,000.
Residents receiving confirmation letters who wish to change payment method or bank information must file their own application by Sept. 15. All applicants must file by Oct. 31 and verify identity through ID.me.
The program is part of $4.3 billion in tax relief included in the state budget signed by Gov. Phil Murphy in June.
The New Jersey Digest is a new jersey magazine that has chronicled daily life in the Garden State for over 10 years.