NJ Residents: Apply Now for Up to $1,500 in Direct Payments through ANCHOR Program!

Millions of homeowners and renters in New Jersey have less than a month to apply for direct payments of up to $1,500, thanks to Governor Phil Murphy and the New Jersey state legislature’s ANCHOR program, which was launched last year. The program was created to help reduce the financial burden of property taxes and will provide up to $1,500 in aid to almost 1.2 million homeowners, with payments of up to $450 for over 900,000 renters, The US Sun reported on February 2, 2023.

Eligible residents must apply online, by phone, or through the mail, with the deadline for applications set for February 28. According to the official website of the New Jersey Division of Taxation, on January 31, 2023, homeowners with incomes of $150,000 or less are eligible for $1,500, while those making between $150,000 and $250,000 will receive $1,000. Renters with an income of $150,000 or less can receive a $450 payment. The application process is slightly different for renters and homeowners, with renters only able to apply online or via the mail, while homeowners need an ANCHOR ID and PIN to apply.

Eligible applicants can expect to receive their payments by May 2023, and the program has replaced a previous initiative that offered no aid to renters. Originally, the deadline for applications was December 30, 2022, but it has been extended to January 31 and then to February 28, 2023.