New Jersey residents can expect to receive property tax relief checks in the coming weeks as part of the state's ANCHOR program. The state's Treasury Department anticipates that checks or direct deposits will reach many residents in early to mid-October.
The ANCHOR program, which stands for Aid to New Jerseyans for Community and Home Ownership Relief, is a property tax relief initiative that has been in operation since 2022. The program has grown to be one of the most impactful property tax relief initiatives in New Jersey's history, according to State Treasurer Elizabeth Maher Muoio.
The program is designed to be inclusive of New Jerseyans at all stages of life, from young people renting their first apartment to retirees living in the place they've called home for decades. Nearly two million people in the Garden State have benefited from ANCHOR, and the state hopes to see all eligible residents apply for this significant property tax relief.
Residents who received the benefit last year did not need to take any action as they were automatically reapplied using last year's information. However, if their personal information has changed since their last ANCHOR payment, taxpayers will need to file a new application by November 30, 2024.
The Division of Taxation has implemented a number of changes this season designed to further simplify the application process for new applicants and improve the taxpayer experience. These changes include a streamlined application system, an increased number of agents available to assist callers to the ANCHOR hotline, and an automatic callback feature for the hotline.
For more information about the program, residents can visit the ANCHOR website or call the ANCHOR hotline.