ANCHOR Tax Rebate Update: Check Your Mailbox For Eligibility

The New Jersey Division of Taxation began sending letters to residents this week regarding their eligibility for its NJ ANCHOR tax relief program.

The ANCHOR, or the Affordable New Jersey Communities for Homeowners and Renters program, offers tax relief for owners and renters in New Jersey, and this year’s relief is based on residents’ 2024 income.

The Division of Taxation began sending eligible residents their ANCHOR Benefit Confirmation Letters on Wednesday. These notifications will go out to anyone under the age of 65 who is not collecting Social Security disability benefits.

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 Sept. 15.

Most eligible residents will have their application auto-filed for them. Those who do not receive an ANCHOR Benefit Confirmation Letter, including people 65+ years old who collect Social Security disability benefits, need to file an ANCHOR application on their own.

This year, the state will not be sending out letters with ID/PIN information to file recipients’ applications. Instead, applicants must verify their identity through ID.me while using the program’s online application.

Applicants should prepare their 2024 property tax details, including their County/Municipality Code, Block/Lot/Qualifier, and tax amounts, as well as the gross income reported on their 2024 NJ-1040.

To file your ANCHOR application yourself, click here. The deadline to file is Oct. 31.

See ANCHOR eligibility requirements below:

• Homeowners are eligible if:

1. You were a New Jersey resident, and
2. You owned and occupied a home in New Jersey that was your principal residence (main home) on Oct. 1, 2024; and
3. Your home was subject to property taxes, and
4. Your 2024 New Jersey gross income was not more than $250,000.

• Renters are eligible if:

1. You were a New Jersey resident
2. You rented and occupied a residence in New Jersey that was your principal residence (main home) on Oct. 1, 2024
3. Your name was on the lease or rental agreement
4. You paid rent
5. The rental property was subject to local property taxes
6. Your 2024 New Jersey gross income was not more than $150,000.

The rebate amounts will be the same as last year’s: $450 for renters to $1,500 for homeowners. Senior homeowners can receive up to $1,750, and senior renters can see up to $700, depending on income.

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.

Residents can check their ANCHOR benefit status online here.

In June, 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.

More from Patch: Murphy Signs Record-Busting Budget—With New Taxes And Tax Relief—Into Law

Correction: An earlier version of this story incorrectly stated that the ANCHOR Benefit Confirmation Letters would not be sent to 65+ year olds collecting Social Security. In actuality, the ANCHOR Benefit Confirmation Letters would not be sent to individuals 65 years old or older who are collecting Social Security disability benefits.