What to know about New Jersey’s ANCHOR tax relief program
This year's ANCHOR benefit is based on residency, income and age from 2024.
Share:
More Stories
1:39
City leaders rally for student detained by ICE after court appearance
59m ago2:02
Clouds give way to peeks of sun, isolated storms this afternoon for The Bronx
1h ago0:22
1 person shot on Lacombe Avenue in Castle Hill
1h ago1:29
Man arrested after fire breaks out in Wakefield apartment building
1h ago1:45
New supportive and affordable housing building coming to Bedford Park
1h ago1:39
Allerton resident discusses string of car break-ins in neighborhood
8h ago1:39
City leaders rally for student detained by ICE after court appearance
59m ago2:02
Clouds give way to peeks of sun, isolated storms this afternoon for The Bronx
1h ago0:22
1 person shot on Lacombe Avenue in Castle Hill
1h ago1:29
Man arrested after fire breaks out in Wakefield apartment building
1h ago1:45
New supportive and affordable housing building coming to Bedford Park
1h ago1:39
Allerton resident discusses string of car break-ins in neighborhood
8h ago
The state of New Jersey will begin sending out letters on Wednesday to eligible residents containing information about the 2025 ANCHOR tax benefits.
This program offers property tax relief to New Jersey residents who own or rent property in New Jersey as their main home and meet certain income limits. This year's ANCHOR benefit is based on residency, income and age from 2024.
WHAT IS ANCHOR?
The Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) program began in 2022 and expanded on the state’s former Homestead Benefit program. It is available to both homeowners and renters who meet certain financial requirements.
WHO IS ELIGIBLE THIS YEAR?
Homeowners are eligible if:
- You were a New Jersey resident
- You owned and occupied a home in New Jersey that was your principal residence (main home) on Oct. 1, 2024
- Your home was subject to property taxes
- Your 2024 New Jersey gross income was not more than $250,000
Renters are eligible if:
- You were a New Jersey resident
- You rented and occupied a residence in New Jersey that was your principal residence (main home) on Oct. 1, 2024
- Your name was on the lease or rental agreement
- You paid rent
- The rental property was subject to local property taxes
- Your 2024 New Jersey gross income was not more than $150,000.
HOW MUCH WILL I GET?
In previous years, payments ranged from $450 for renters to $1,500 for homeowners. This year, the state says the benefits will be the same.
HOW DO I APPLY?
If you are under 65 years old and are not collecting Social Security disability benefits, the state will file on your behalf. Letters will be sent out on Aug. 13.
“If you receive a letter and need to change your banking information, or prefer to request a paper check, then you will have to file your own application by September 15, 2025,” it states on the ANCHOR website.
WHAT IF I AM OVER 65 YEARS OLD?
Senior residents or those who are collecting Social Security disability benefits can apply using the combined application, PAS-1. The state will no longer require a PIN when filing for the ANCHOR benefit. Instead, applicants will use the ID.me feature and may be required to fill out information on income, property and tax bills.
More from News 12
2:08
NYPD works to stop drug users in Bedford Park apartment building
1:58
Family searches for Bronx man who got lost on the subway
1:49
Renovations of Evander Childs HS field continue long after expected completion date
1:31
'They’re keeping me in the dark'. Tenants concerned over no elevator service, claim building management is MIA
1:44
Tenants at NYCHA's Patterson Houses say unwanted visitors using drugs near children is daily issue
1:39
