Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) Program Renewed for 2020
The ANCHOR program, re-introduced for 2020, will provide property tax relief to New Jersey residents who owned or rented their principal residence on October 1, 2020 and meet income limits.
- Homeowners with a 2020 New Jersey gross income of $250,000 or less who, as of October 1, 2020, owned, resided in, and paid taxes on their property.
- Renters with a 2020 New Jersey gross income of $150,000 or less if, on October 1, 2020, they:
- Rented a house, apartment, condo, or mobile home that was subject to local property taxes; AND
- Paid rent; AND
- Had their name was on the lease or rental agreement.
Benefits are determined by your 2020 New Jersey Gross Income and age:
- Homeowners under 65 with incomes up to $150,000 will receive $1,500, and with incomes up to $250,000 will receive $1,000. Applicants who were age 65 or older by December 31, 2020 will receive an additional $250.
- Renters under 65 with incomes up to $150,000 will receive $450. Renters age 65 or older with incomes up to $150,000 will receive $700.
- Returning Beneficiaries: If you received a 2019 ANCHOR benefit, expect an "ANCHOR Benefit Confirmation Letter" by the end of August 2023. Upon receiving this letter, no further action is needed. Benefits will be processed using the details from your last filing. Track your payment status mid-October here.
- Updated Information: If there have been changes since your last filing, submit an updated application by September 30, 2023. Although there are phone and paper application methods available, we recommend applying online here.
- New Applicants: If you haven't received the "ANCHOR Benefit Confirmation Letter" by the end of August, apply for benefits here by December 29, 2023.
- Payments will be made on a rolling basis. The majority are expected to be disbursed before November 1, 2023.
- A principal residence (main home) is defined as a residence you occupied as your permanent home.
- Certain homeowners must file a paper ANCHOR application. For details about these unique circumstances, click here.
- Eligibility Criteria:
- If you didn't own and occupy a home on October 1, 2020, you won't qualify for homeowner benefits—even if you owned a home during part of 2020.
- You are not eligible for benefits for vacation properties, second homes, or homes you rented out. If you owned multiple New Jersey properties, only the primary residence as of October 1, 2020, is eligible.
- The cumulative property tax relief benefits (like ANCHOR benefit, Senior Freeze, and other deductions) can't exceed the total property taxes you paid for your primary residence in that year.
- To apply, you will need –Social Security Numbers (or TIN) and dates of birth for you and your spouse, New Jersey gross income from Line 29 of your 2020 NJ-1040, and your 2020 filing status.
- For additional information and answers to frequently asked questions, click here.