Here's When To Expect Your ANCHOR Refund

NEW JERSEY — Some New Jerseyans might be anxiously checking their bank accounts as October arrives, waiting to see when their ANCHOR property tax benefits will come in.

The ANCHOR program (Affordable New Jersey Communities for Homeowners and Renters) is in its third year, and residents who qualify can get between $450 and $1,750 back in their pockets.

Money will be arriving this month for the 1.5 million people who were automatically enrolled this year. The state Division of Taxation told Patch that payments are now being processed, and the first round of checks and direct deposits will arrive in mid-October.

Other applicants will also get their payments on a rolling basis, about 90 days after they submit their application.

The Division of Taxation has updated its website so people can check if the state received their information, and also look up their benefit status.

This year, the ANCHOR program is based on tax information from Fiscal Year 2021. Homeowners and renters can check their application status online, by selecting that year from the options. The website allows people to see if their application is in processing, and the date the state issued a benefit. It will also tell residents if the state doesn't have a record of processing their application.

About 2 million people are expected to receive an ANCHOR benefit this year, compared to 1.8 million last year and 1.6 million in 2022, according to a report from the Department of the Treasury published by the state legislature. The program paid out more than $2 billion last year, officials said.