During his State of the State Address on Jan. 10, Gov. Phil Murphy announced that in concert with Senate President Nicholas Scutari and Assembly Speaker Craig Coughlin, the state is extending the application deadline for the new ANCHOR property tax relief program to ensure every eligible New Jerseyan takes advantage of the relief.
The new application deadline is being extended to Feb. 28, giving taxpayers an extra month to apply, according to a press release from Murphy’s office.
The deadline was previously extended to Jan. 31 to allow tenants who had been ineligible because their unit is under a Payment in Lieu of Taxes agreement to apply for the benefit, according to the press release.
“This is money going right back into the pockets of roughly two million New Jersey middle class and working homeowners, seniors and tenants; households in which well more than half of all of our residents live,” Murphy was quoted as saying in the press release.
“For more than a million homeowners, ANCHOR’s direct relief will effectively undo years of property tax increases, even up to a decade’s worth.
“And for nearly one million renters, ANCHOR’s tenant relief will cushion rent hikes,” said Murphy. “Today, working with the senate president, speaker and treasurer, I am proud to give every eligible New Jerseyan an extra month to apply.”
“The response to the ANCHOR program has been outstanding and I am very glad we can extend the deadline so even more New Jerseyans can take advantage of this game-changing program,” State Treasurer Elizabeth Maher Muoio said.
“There are still thousands of renters and homeowners out there who have not been eligible for property tax relief for nearly a generation who can apply and receive the rebate. We want to make sure we provide every chance for people to get their applications in and get the relief they deserve,” she said.
Under the ANCHOR program, the size of the benefit and the number of eligible applicants has increased substantially, compared to the previous Homestead Benefit (which ANCHOR is replacing), including double the number of homeowners and nearly a million tenants who had not been eligible for property tax relief in recent years, according to the press release.
More than 870,000 homeowners with incomes up to $150,000 will receive $1,500 in relief; more than 290,000 homeowners with incomes over $150,000 and up to $250,000 will receive $1,000; and more than 900,000 renters with incomes up to $150,000 will receive $450 to help offset rent increases, according to the press release.
All payments will begin going out in late spring, regardless of when taxpayers file. Payments will be issued in the form of checks or direct deposits and are not subject to federal or state income tax.
To be eligible for this year’s benefit, homeowners and renters must have occupied their primary residence on Oct. 1, 2019 and file or be exempt from New Jersey income taxes.
Eligible homeowners can apply online, by phone, or via paper application, which can be downloaded online and returned by mail.
Tenants can apply online or download the application from the Taxation website and return by mail (there is no phone option for tenants, as this is the first time this group will be eligible for property tax relief).
Applicants are encouraged to consult the detailed information posted on the Division of Taxation website, including a list of Frequently Asked Questions, before calling the ANCHOR hotline.
For more information, visit nj.gov/treasury/taxation/anchor/ or call the ANCHOR hotline at 1-888-238–1233.