Up To $1,500 In Tax Rebates Available For NJ Homeowners And Renters With ANCHOR Program

The Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) program, which aims to support homeowners and renters in affordable communities in New Jersey, will enable millions of residents to request a direct payment of up to $1,500.

Authorities are encouraging eligible renters and homeowners to submit their applications for the tax rebate before the deadline of February 28 and officials from the Treasury said that there will be no further extensions, according to New Jersey Monitor. The rebate ranges from $450 to $1,500 dollars, and despite over 1.5 million applications already submitted, there are approximately 500,000 eligible residents who haven’t applied yet.

Melinda Caliendo, a spokesperson for the New Jersey Treasury, has confirmed that the tax rebates will be sent via direct deposit to those who have successfully submitted their applications sometime in the spring. However, she did not provide a specific date for when the payments will be issued to New Jersey citizens.

A payment of $1,500 will be given to homeowners whose income is less than $150,000, whereas homeowners whose income falls between $150,000 and $250,000 will receive $1,000. In addition, renters with an income below $150,000 will receive a payment of $450, according to an article published by New Jersey Division of Taxation.