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New Jersey ANCHOR Property Tax Relief Program Deadline Extended

By Nicole DeRosa

The Affordable New Jersey Communities for Homeowners and Renters (“ANCHOR”) property tax relief program deadline application has been extended again, for the second time to February 28, 2023.

This program provides tax relief to New Jersey residents who owned or rented their principal residence on October 1, 2019 and met certain income limits, which is based on 2019 gross income limits (NJ-1040 Line 29):

  • 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
  • Homeowners with income of more than $250,000 are not eligible
  • Renters with income of $150,000 or less will receive $450

There is no age limit for applicants, just the income limit.  The application process can be a bit tricky however those who previously participated in the Homestead Benefit program will see many similarities.  This program is also not to be confused with the Senior Freeze program and is completely separate.

Homeowners need an ANCHOR and PIN to apply online or by phone.  If a mailer or email with an ID and PIN was not received, but a Homestead Benefit application was previously filed, you can access the online ID and PIN inquiry system to retrieve your ID and PIN.  Certain homeowners unfortunately will not be able to file online and must file a paper application.  Certain homeowners who are required to file a paper application if:

  • Ownership was shared with someone who was not your spouse, and the ownership percentage is not preprinted on your worksheet
  • Your main home was a unit in a multi-unit property that you owned
  • You received an ANCHOR information mailer for the correct property… but the name is not correct
  • You are a widow/widower and the deed lists both your name and the name of your deceased spouse…. And more

All eligible tenants can and should apply online and the process is a bit easier as there is no ID and PIN required.

All payments will be issued as checks or direct deposits beginning late Spring 2023 (no later than May 2023) and they will not be issued in the order received.

Click here for more information from The New Jersey Division of Taxation on the ANCHOR property tax relief program.

Questions or concerns? Reach out to a Wiss team member for more information or assistance.

ANCHOR, Nicole DeRosa

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