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Deadline Extended for NJ ANCHOR Program

By Karin Ecroyd

The deadline to file the Affordable New Jersey Communities for Homeowners and Renters (NJ ANCHOR) program benefit application has been extended to January 31, 2023 (originally December 30, 2022). Payments will start going out late Spring 2023!

Earlier this year, New Jersey enacted the ANCHOR program which aims to put some cash back into the pockets of New Jersey homeowners and renters, and serves as a replacement for the Homestead Benefit with a broader application. To be eligible for the NJ ANCHOR program, a New Jersey resident must have owned or rented their principal residence on October 1, 2019 and be below the income limits. There is no age limit for the program.

If a New Jersey homeowner or renter is deemed eligible under the program’s guidelines, they will be entitled to a monetary amount that will be paid out via direct deposit or check. The amount of the benefit is as follows:

  • Homeowners with income of $150,000 or less will receive $1,500.
  • Homeowners with income of more than $150,000 and up to $250,000 will receive $1,000.
  • Renters with income of $150,000 or less will receive $450.

To apply, applicants who own their home need an ANCHOR ID and PIN to apply online or by phone. These forms of identification would have been received on the information mailers that New Jersey has sent out. If you did not receive the mailer, but filed for the 2018 Homestead Benefit, you can retrieve your ID and PIN here. Homeowners may also file a paper application here. Tenants do not need to have an ID or PIN to apply to the program and can apply online or via paper application. The website for application is here.

For more detailed information, see the following general DOT link to the ANCHOR program and this link for a general FAQ as well as specific homeowner FAQ and specific tenant FAQ.

ANCHOR, benefits, HomeOwnership, Karin Ecroyd, Rent

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