Personal Finance
Automatic ANCHOR Payments Coming For 1.5M NJ Residents
Letters and checks will soon be in the proverbial and actual mail as New Jersey's property tax relief program kicks off for 2024.
![This is the third year for the state's property tax relief program, called Affordable New Jersey Communities for Homeowners and Renters (ANCHOR).](https://patch.com/img/cdn20/shutterstock/25310363/20240813/120011/styles/patch_image/public/shutterstock-119319121___13112713251.jpg)
NEW JERSEY — More than a million New Jersey residents will get automatic ANCHOR payments this year, while another 2 million could be eligible, officials announced this week. Letters and checks will soon be in the mail as New Jersey's property tax relief program kicks off for 2024.
The state Division of Taxation also said it has "effectively eliminated" the need for people to submit paper applications, with residents able to securely upload documents online this year. "Paper applications remain available for those who prefer, or have special circumstances," said officials on Tuesday.
Letters will begin going out on Aug. 19 to about 1.5 million people who have already received a payment, confirming their automatic eligibility for the program, said Treasury officials. Most of these homeowners and renters won't have to re-submit their information, as the Division of Taxation will file their applications automatically. But if any of these residents have moved, changed their name, or gotten a new bank account, they will have to file a new application by Sept. 15 at anchor.nj.gov.
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And more than 2 million more residents will receive letters with information on how to apply for the program in 2024, officials said — with Nov. 30 set as the deadline to submit their application. Those letters will be sent out beginning Aug. 26.
This year's ANCHOR program, which stands for Affordable New Jersey Communities for Homeowners and Renters, will use property tax information from 2021.
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Additional security measures are also in place the following people, officials said: New applicants, those who are looking for their ANCHOR ID and PIN, those who did not receive an ANCHOR benefit confirmation letter or application mailer, and those who no longer have their letter/mailer and the accompanying information. These taxpayers will be prompted to verify their identity online, or visit one of the Division of Taxation’s Regional Information Centers with proof of ID.
This year, payments will be issued on a rolling basis beginning in November, per Treasury officials.
This is the third year that the state has distributed ANCHOR benefits, which gives New Jersey taxpayers up to $1,750 in tax rebates. Property owners in the Garden State paid an average of $9,803 in property taxes in 2023, an increase of $300 over the previous year — and the property tax rate here is the highest in the country, according to a WalletHub analysis.
Treasury officials said the program paid more than $2 billion last year, and more than 1.8 million residents got a refund for the 2020 tax year. Payments ranged from $450 to $1,500, with applicants over age 65 receiving an additional $250.
Officials also said they have made improvements to the ANCHOR call center, by doubling the number of representatives available to help callers with questions, and adding an an automatic callback feature which allows residents to be placed in a queue rather than waiting on hold.
More information about the program is available at anchor.nj.gov. Applicants may also call the ANCHOR hotline at (609) 826-4282 or 1-888-238-1233, or get in-person assistance at a Regional Information Center.
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