Property Tax Update

Learn how some taxpayers can offset local property taxes using the State's new ANCHOR program.

New Jersey taxpayers can now apply for the Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) program. The State’s ANCHOR program replaces the Homestead Benefit and helps eligible renters and homeowners to offset local property taxes.

To qualify, the applicant must have either owned or rented, their residence as of October 1, 2019. If a homeowner or tenant has moved since then, including out of state, the person is still eligible to file if they meet the other requirements.

Homeowners may file online, or by phone. However, certain homeowners may need to file by paper. Tenants may file online, but a paper application is available if preferred. Tenants have no option to file by phone. Eligible homeowners require an ID and PIN to file electronically. Tenants will need to have a valid taxpayer identification number (Social Security number or Individual Tax Identification Number) to file.

ANCHOR recipients can specify on the applications whether they want to receive a check or direct deposit payment. The due date for the application is December 30, 2022. The Division expects to issue payments in May 2023.

Visit the ANCHOR Webpage to learn more.

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