If you live in New Jersey, you should pay special attention to your mail starting Monday.

That’s when the popular ANCHOR property tax relief program officially begins. The Department of Revenue’s Tax Division will begin mailing letters to about 1.5 million New Jersey residents to confirm that they are automatically eligible for this year’s benefit.

The program provides a one-time payment of between $450 and $700 for renters and a payment of between $1,000 and $1,750 for homeowners.

If the personal information listed in the letter (name, mailing address, and banking information if the benefit was paid by direct deposit) has changed since their last ANCHOR payment, taxpayers must submit a new application by September 15, 2024.

“The ANCHOR program continues to deliver on our promise to increase affordability for millions of New Jerseyans. I want to thank the hardworking staff at the Department of Treasury, especially the Division of Taxation, for their efforts to make this important program convenient and accessible,” said Governor Phil Murphy.

Last year’s program for tax year 2020 went down in history as the state’s largest single property tax relief initiative, distributing over $2.1 billion in benefits to more than 1.8 million homeowners and renters.

Here’s what you need to know about this season’s program.

what is New Jersey Affordable Housing for Homeowners and Renters (ANCHOR)?

This program provides property tax relief to New Jersey residents who own or rent property in New Jersey as their primary residence and meet certain income limits.

This season marks the third year the state has distributed ANCHOR benefits.

How much is the remuneration?

Homeowners

Renter

When will I receive my ANCHOR benefit?

All payments will be made on a rolling basis starting in November.

How can I apply for this benefit?

Homeowners

• Eligibility
  • New Jersey homeowners who meet residency, income and age requirements in 2021 are eligible to receive an ANCHOR homeowner benefit if:
    • They were residents of New Jersey. and
    • You owned and occupied a home in New Jersey that was your primary residence (principal residence) on October 1, 2021; and
    • Property taxes were paid for this house in 2021; and
    • Your gross income in New Jersey in 2021 was $250,000 or less.

• When is the deadline?
  • All applicants have until Saturday, November 30, 2024, to submit their applications.
• Where can I apply?
  • Most homeowners can file their tax return online with an identification number (ID), PIN and passcode or use the ID.me verification feature. However, if you purchased your home in 2021, changed your deed, or had certain life changes such as a divorce or the death of a spouse, you must file the tax return using the special circumstances application.

Renter

• Eligibility
  • New Jersey renters who meet residency, income and age requirements in 2021 are eligible to receive ANCHOR renter benefits if:
    • They were residents of New Jersey; and.
    • Your gross income in New Jersey in 2021 did not exceed $150,000; and
    • Her name was on the lease; and
    • You have paid rent; and
    • You rented and occupied a New Jersey apartment that was your primary residence (principal residence) on October 1, 2021; and
    • The rental property was subject to local property taxes (see “Qualified and Non-Qualified Rental Properties”).
• When is the deadline?
  • All applicants have until Saturday, November 30, 2024, to submit their applications.
• Where can I apply?

When is the application deadline?

The application deadline is November 30, 2024.

The department will send ANCHOR application emails with information on how to apply for the program to over two million households starting August 26.

What options are there for sending the application?

The tax agency continues to improve the process to make applying for the ANCHOR program more convenient and accessible. New this season, the agency has effectively eliminated the need for paper applications and introduced a new online application that requires supporting documentation for residents who otherwise had to submit paper applications in previous ANCHOR seasons.

These applicants can now upload their documents securely online. Paper applications remain available for those who prefer this or have special circumstances.

How to prevent fraud?

As part of ongoing efforts to prevent fraud and protect taxpayer dollars, many applicants will be required to undergo additional identity verification when applying for the ANCHOR grant this season. These taxpayers include:

• New applicants;
• Anyone searching for their ANCHOR ID/PIN at anchor.nj.gov;
• Anyone who has not received an ANCHOR benefit confirmation letter or application email;
• Anyone who no longer has their ANCHOR letter/mailer or the information contained therein.

In these cases, taxpayers will be asked to create an ID.me account or use an existing one to verify their identity. Applicants also have the option of visiting one of the tax department’s regional information centers to verify their identity by presenting a driver’s license, passport or other qualifying document. For more information, visit anchor.nj.gov.

Where can I find more information?

The tax authority has doubled the number of staff available to assist callers on the ANCHOR hotline and implemented an automated call-back feature that allows residents to be placed on hold rather than waiting on hold.

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 visit a regional information center for in-person counseling.