Another Big Change For NJ's ANCHOR Tax Rebate Program Is Live Now

NEW JERSEY — Eligible New Jersey residents can now apply for property tax relief with a new, combined application designed to streamline three separate programs.

And, the application also introduced changes for this year's ANCHOR program — which will be based on residency, income, and age for 2024. That will apply to all eligible ANCHOR recipients — but not everyone can apply yet.

Here's what changed, and when you can apply for this year's benefit.

Three programs, one application

The new application allows seniors and disabled residents to apply for ANCHOR, Senior Freeze, and the upcoming Stay NJ program all with one form — called the PAS-1. This form replaces the previous Senior Freeze forms and ANCHOR applications for residents 65+, and those who are receiving federal Social Security Disability benefits.

Officials said the Senior Freeze application will look different, and residents will no longer need to submit proof of their property taxes or mobile home park site fees with the application. Income eligibility standards have also changed: An applicant’s total annual income must have been $168,268 or less in 2024, and $163,050 or less in 2023, to be eligible.

These applicants also no longer need an ID number and PIN to file for ANCHOR benefits with the PAS-1.

Recipients can fill out the paper form that is mailed to them, or apply online now at propertytaxrelief.nj.gov. Applications are due by Oct. 31, but payments could start as early as March for those who complete theirs soon.

ANCHOR benefit year moves up

ANCHOR, which replaced the Homestead Benefit, began in 2022 and was based on the 2019 tax year. That's because the Homestead Rebate program had a slight lag in the tax year for which taxpayers benefitted.

The 2024 ANCHOR benefit was based on the 2021 tax year. But for 2025, eligibility is based on where a resident owned or rented a home in 2024 — not 2022, as would follow the established pattern.

So, what about benefits for the 2022 and 2023 tax years? The Stay NJ Task Force, which recommended combining the three applications into one to streamline the process, addressed this in a report to Gov. Murphy and the State Legislature.

ANCHOR payments will continue annually as long as the program is funded in the state budget, their report said — but changing the benefit year does mean that some residents won't be eligible this year, and that some estates won't be able to apply on behalf of someone who died.

From the Stay NJ Task Force report:

"Because of changes in residency, income, or homeowner status, a person may have been eligible for ANCHOR in 2022 but may no longer be eligible in 2024. Estates that are eligible because a deceased applicant qualified in 2022, will lose a current year benefit if the benefit year for eligibility is moved to 2024.

There may be a perception that the State is taking something away from a qualified applicant by moving the ANCHOR benefit year to 2024. However, as long as ANCHOR is funded, there will still be an annual payment. A person who qualified in 2022 and still qualifies in 2024 will continue to get a benefit."

In short, there will be some residents who lose out on benefits for 2022 and 2023 with the eligibility year moving up.

The task force also recommended giving more resources to the Division of Taxation to answer residents' questions about the new application, noting that "even with the ANCHOR program, which was a simple, flat benefit, the Division received thousands of phone calls from applicants."

When does Stay NJ start?

The Stay NJ program, which is expected to begin in 2026, will provide senior homeowners with property tax credits of up to $6,500. To qualify, you must have owned and lived in your home for the full 12 months of 2024 and have an income below $500,000. Mobile homeowners are not eligible.

These benefits will be calculated after Senior Freeze and ANCHOR benefits.

Expect to learn more specifics during the budget cycle for FY 2026, which will start this month.

What about those not eligible for the PAS-1?

Most other homeowners and renters who typically receive benefits from the ANCHOR (Affordable New Jersey Communities for Homeowners and Renters) program will get a letter this summer confirming their eligibility, officials said. Other eligible residents may receive a mailer so they can apply.

All applications for ANCHOR will be due Oct. 31.

Eligibility requirements and benefits available for ANCHOR homeowner recipients may change in this year's state budget, which will be introduced this summer. Last year, the $2 billion program paid out between $450 and $1,500 to homeowners and renters, plus an extra $250 available for seniors.