New Jersey’s Division of Taxation on Tuesday said it will officially kick off the third season of the popular ANCHOR property tax relief program next week.
About 1.5 million New Jerseyans are expected to confirm their automatic eligibility for this season’s benefit.
“From day one, our administration has strived to make New Jersey more affordable for residents across our state,” Gov. Phil Murphy, said. “The ANCHOR program continues to deliver on our promise of increasing affordability for millions of New Jerseyans.”
State Treasurer Elizabeth Maher Muoio said that, since the launch of the program in 2022, ANCHOR has grown to be one of the most impactful property tax relief initiatives in New Jersey’s history.
Last season’s program, covering the 2020 tax year, made history as the state’s single largest property tax relief initiative, with over $2.1 billion in benefits distributed to more than 1.8 million homeowners and renters. Payments ranged from $450 to $1,500, with applicants over age 65 receiving an additional $250.
“ANCHOR is inclusive of New Jerseyans at all stages of life, from young people renting their first apartment, to retirees living in the place they’ve called home for decades. Nearly 2 million people in the Garden State have benefited from ANCHOR, and we hope to see all eligible residents apply for this significant property tax relief,” she said.
Beginning Aug.19, the division will mail ANCHOR Benefit Confirmation Letters to approximately 1.5 million taxpayers to notify them that their application will be filed automatically.
If the personal information listed in the letter (name, mailing address, and banking information if their benefit was distributed via direct deposit) has changed since their last ANCHOR payment, taxpayers will need to file a new application by Sept. 15 by clicking here.
All payments will be issued on a rolling basis beginning in November. The deadline to file an application is Nov. 30.
With the goal to reach eligible homeowners and renters who have not previously applied, the division will send ANCHOR Application Mailers with information on how to apply for the program to over 2 million residences beginning Aug. 26.
