Tax Relief Program Extended For Chatham Homeowners, Renters

CHATHAM, NJ — The deadline for applying for property tax relief under the state's new Affordable NJ Communities for Homeowners and Renters (ANCHOR) program has been extended.

According to an announcement from Governor Phil Murphy, the application deadline, which was originally slated for Dec. 30 has been extended until Jan. 31, 2023.

The new tax relief program replaces the previous Homestead Rebate Benefit and increases both the benefit amount and the number of eligible applicants, according to officials.

Earlier this fall, mailers from the New Jersey Division of Taxation began to be delivered to tenants and homeowners in Morris County, which includes Chatham. According to officials, the Treasury staggered mailings in an effort to reduce the burden on its call center.

"For the residents of New Jersey, affordability is the most pressing issue and property taxes are the greatest burden," Senate President Nick Scutari said. "We are making use of resources to address this need by helping homeowners and renters with direct financial assistance. Extending the deadline will give our residents a greater ability to take advantage of a program that will help make their lives more affordable."

It is no secret that New Jersey is an expensive place to live if you want to own a home, and Chatham is no exception. Taxes and home values have steadily risen across the state over the last decade. Locally, Chatham Township residents paid an average of $16,065 in 2021 while Chatham Borough residents paid $14,672.

“With the expansion of this program many more Chatham Borough residents will be eligible for property tax relief,” said Borough Council Member and Budget and Finance Chair Karen Koronkiewicz.

The average benefit is $971 per eligible resident, with a $1,500 rebate available to homeowners with a household income of less than $150,000.

The state will still send payments during spring of 2023.