FEB. 27, 2023, UPDATE: The application period for the ANCHOR program was extended again to Feb. 28, 2023, to ensure more renters and homeowners have the time they need to apply, according to the governor’s office. Read more background about the program below:
State leaders announced Nov. 18 that the deadline to file an application for the new ANCHOR property tax relief program is being extended until Jan. 31, 2023, giving taxpayers an extra month to apply.
Additionally, Gov. Phil Murphy, Senate President Nick Scutari, D-22nd District, and Assembly Speaker Craig Coughlin, D-19th District, said that eligibility is being expanded to renters who had previously been disqualified because their unit is under a PILOT (Payment in Lieu of Taxes) agreement.
Those individuals are now eligible to apply for the benefit.
Under the program, launched during the most recent state budget agreement and replacing the former Homestead Benefit:
To be eligible for the payment, which officials say will go out in the late spring 2023, homeowners and renters must have occupied their primary residence on Oct. 1, 2019, and file or be exempt from N.J. income taxes. The payments will be issued in the form of checks or direct deposits and are not subject to federal or state income tax.
We’re extending the deadline for our historic ANCHOR property tax relief program and expanding eligibility so more families can get property tax relief delivered right back into their pockets.
We’re making New Jersey more affordable for our homeowners and renters. pic.twitter.com/YaIlyCdvv8
— Governor Phil Murphy (@GovMurphy) November 18, 2022
“In order to achieve meaningful relief for hard-working taxpayers, we must expand access and improve awareness of our efforts to promote affordability and opportunity in New Jersey,” said Murphy. “I want to thank the Legislature once again for sharing our commitment to deliver real property tax relief to as many people as possible. Whether you’re a homeowner or a renter, New Jersey will remain the best state to live, work, and raise a family.”
Scutari said that affordability is the most pressing issue for New Jerseyans and that property taxes are the greatest burden.
“We are making use of resources to address this need by helping homeowners and renters with direct financial assistance,” said Scutari. “Extending the deadline will give our residents a greater ability to take advantage of a program that will help make their lives more affordable.”
“Expanding eligibility for renters and extending the deadline only strengthens that commitment and ensures all who need relief will have the time and awareness to benefit,” said Coughlin.
The leaders also announced that the state will embark on an aggressive advertising and marketing campaign to spread word about the ANCHOR program the Garden State. Treasury’s Division of Taxation is spearheading that campaign effort to increase awareness.
“We have been working around the clock since ANCHOR’s launch in September to make sure every New Jersey resident is aware of this new program and to answer as many questions as possible,” said State Treasurer Elizabeth Maher Muoio. “With even more people eligible now, we thought it wise to extend the deadline and boost awareness.”
More information on program eligibility and applications can be found here.