Big Changes To NJ ANCHOR Tax Rebate Start This Week: What To Know

Millions of New Jersey residents will soon find out if they're enrolled to receive a major property tax relief program from the state this year.

Starting Wednesday, the New Jersey Division of Taxation says it will begin sending out confirmation letters to residents that meet the requirements for the 2025 Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) relief program. These notifications will go out to anyone under the age of 65 who is not collecting Social Security benefits. While the state will auto-file for most eligible residents, you are also able to file your own application beginning this month by visiting the ANCHOR program website.

Benefits under ANCHOR are also available to senior citizens and others who receive Social Security benefits. This year, a new form allows these groups to apply to multiple tax relief programs at once. The new PAS-1 application allows these groups to apply for ANCHOR, Senior Freeze, and the upcoming Stay NJ program with one form.

How Much To Expect, And When

The first payments will begin to go out on Sept. 15 on a rolling basis, usually within 90 days of filing. Those who file by paper will only be able to receive their funds by paper check. Online filers will have the option to receive a check or to use direct deposit.

Benefit amounts available are a maximum of $1,750 for senior homeowners, and $700 for senior renters, depending on income. Those under 65 are eligible to receive up to $450 for renters, and $1,500 for homeowners.

Eligibility

Qualifying for ANCHOR is based on multiple factors across residency, income and age recorded for applicants during 2024.

Homeowners:

You were a New Jersey resident and

• 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; and
• Your 2024 New Jersey gross income was not more than $250,000.

Renters

You were a New Jersey resident and

• 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 (see Qualified and Non-Qualified Rental Properties)
• Your 2024 New Jersey gross income was not more than $150,000.

After Receiving Your Letter

Anyone receiving a letter of eligibility confirmation who needs to change their bank information, or would like to receive their relief via a paper check must file their own application by Sept. 15.

The state is not sending out ID information to file applications by mail anymore. You must use the ID.me site when filing online.

Applicants should have their 2024 property tax details readily available. This includes County/Municipality Code, Block/Lot/Qualifier, etc. Filers will also need their gross income reported on the 2024 NJ-1040 form.

Deadline

The filing deadline for the ANCHOR program is Oct. 31. You can check the status of your benefits by visiting the Department of the Treasury's website.

On June 30, Governor Phil Murphy signed an estimated $4.3 billion of tax relief into his budget for the new fiscal year. This includes $2.4 million for the continuation of ANCHOR. Read more