Governor Murphy Extends Deadline for Renters and Homeowners to File for ANCHOR Property Tax Relief

Image

Photo credit: NJ State / Office of Governor Murphy

During his State of the State Address today, Governor Phil Murphy announced that the State of New Jersey is extending the application deadline for the new ANCHOR property tax relief program to ensure every eligible NJ resident takes advantage of the sizable relief.

The new application deadline is being extended to February 28, 2023, giving taxpayers an extra month to apply. The deadline was previously extended to January 31 to allow tenants who had been ineligible because their unit is under a PILOT (Payment in Lieu of Taxes) agreement to apply for the benefit.

“This is money going right back into the pockets of roughly two million NJ middle-class homeowners, seniors, and tenants – households in which well more than half of all of our residents live. For more than a million homeowners, ANCHOR’s direct relief will effectively undo years of property tax increases - even up to a decade’s worth. And for nearly one million renters, ANCHOR’s tenant relief will cushion rent hikes,” said Governor Murphy. 

“The response to the ANCHOR program has been outstanding, and I am very glad we can extend the deadline so even more New Jerseyans can take advantage of this game-changing program,” said State Treasurer Elizabeth Maher Muoio. “There are still thousands of renters and homeowners out there who haven’t been eligible for property tax relief for nearly a generation who can apply and receive the rebate."

Under the ANCHOR program, both the size of the benefit and the number of eligible applicants has increased substantially, compared to the previous Homestead Benefit (which ANCHOR is replacing), including double the amount of homeowners and nearly a million tenants who had not been eligible for property tax relief in recent years.

Over 870,000 homeowners with incomes up to $150,000 will receive $1,500 in relief; over 290,000 homeowners with incomes over $150,000 and up to $250,000 will receive $1,000; and over 900,000 renters with incomes up to $150,000 will receive $450 to help offset rent increases.

All payments will begin going out in late spring, regardless of when taxpayers file. Payments will be issued in the form of checks or direct deposits and are not subject to federal or State income tax.  To be eligible for this year's benefit, homeowners and renters must have occupied their primary residence on October 1, 2019 and file or be exempt from NJ income taxes.

Applicants are encouraged to consult the detailed information posted on the Division of Taxation's website, including an extensive list of Frequently Asked Questions, before calling the ANCHOR hotline. For more information, visit nj.gov/treasury/taxation/anchor/ or call the ANCHOR hotline at 1-888-238–1233.

Press Release by: State of NJ / Office of the Governor



I'm interested
I disagree with this
This is unverified
Spam
Offensive

Replies