New Jersey homeowners and renters have already received an amount of up to $1,750 in property-tax relief as part of the ANCHOR program.
$1,750 in Property-Tax Relief
The second round of the property-tax relief program in New Jersey has sent an amount of up to $1,750 via checks or direct deposits. The state Department of Treasury said that over 1 million residents in New Jersey have already received the payments.
In a published article in NJS Spotlight News, around 200,000 payments will be distributed this month to another group. The Treasury officials said that there is still time for those who believe they are eligible to apply for the program and the amount they will receive varies depending on age, income, and residency status.
Second Round of ANCHOR Program
According to a published article in WHYY, Gov. Phil Murphy signed the state budget worth $2 billion that included a budget for the ANCHOR program. The first round was distributed to eligible homeowners and renters starting in spring 2023.
Furthermore, the second round was distributed under the time of Gov. Murphy after lawmakers reached an agreement in late June and boosted the benefits to homeowners and renters. Homeowners ages 65 and older making up to $150,000 annually are now able to receive benefits totaling $1,750. For homeowners ages 65 and older making more than $150,000 and up to $250,000 annually, benefits now total $1,250. Renters ages 65 and older making up to $150,000 are now eligible to receive $700.