New Jersey Homeowners and Renters: Time is Running Out for ANCHOR Property Tax Relief – Apply Before January 31st!

New Jersey homeowners and renters may be eligible to receive a tax rebate through the state’s ANCHOR Property Tax Relief Program.

This program, which offers over $2 billion in aid for the fiscal year 2023, allows eligible taxpayers to receive up to $1,500 in the form of tax relief. Initially, the deadline to apply for this program was December 30, 2022, but it has since been extended to January 31, 2023, according to a published report by WHYY on December 20, 2022.

To be eligible, homeowners and renters must have filed state income taxes and owned or rented a home on October 1, 2019. In addition, the amount of relief payment received will be based on income. Homeowners with income up to $150,000 will receive $1,500, while those with income between $150,000 and $250,000 will receive $1,000. Renters with income up to $150,000 will receive $450; these data are all based on the official site of the state of New Jersey.

Homeowners can apply online, by phone, or through a physical application if eligible. Renters can only apply online or through a physical application. Relief payments will be issued in the form of a check or direct deposit beginning in late spring 2023. More than 900,000 renters and 1.16 million homeowners will receive money through the ANCHOR Property Tax Relief Program.

Those who need to retrieve their ANCHOR ID and PIN can do so through the online ID and PIN inquiry system or by calling the ANCHOR Hotline at 1-888-238-1233. More information on eligibility and the application process can be found online or by calling 1-877-658-2972.