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August 14, 2024
NJ Residents to Receive Automatic ANCHOR Payments
Officials said last week that over a million people in New Jersey will receive automatic ANCHOR payments this year, and a further two million may be qualified. With the launch of New Jersey's property tax relief program for 2024, letters and checks will soon start arriving in the mail.
Additionally, the state Division of Taxation announced that this year's secure online document uploading option for residents had "effectively eliminated" the need for paper application submissions. Officials stated on Tuesday that "paper applications remain available for those who prefer, or have special circumstances."
About 1.5 million people who have already received a payment will start receiving letters on August 19 verifying their automatic eligibility for the program, according to Treasury officials.
The Division of Taxation will file these homeowners' and renters' applications automatically, saving them from having to resubmit their information in most cases. However, by September 15 at the latest, any of these residents who have relocated, changed their name, or opened a new bank account will need to submit a new application.
Additionally, officials stated that over 2 million more residents would get letters in 2024 with details on how to apply for the program; the deadline for applications is November 30. The letters will be distributed starting on August 26.
Property tax data from 2021 will be used in this year's ANCHOR program, which stands for Affordable New Jersey Communities for Homeowners and Renters.
The following individuals are also subject to additional security measures, according to officials: new applicants; those searching for their ANCHOR ID and PIN; those who have not received an application mailer or letter confirming their ANCHOR benefit; and those who have misplaced their application mailer or letter along with its supporting documentation.
These taxpayers will be required to present identification while visiting a
Division of Taxation Regional Information Center or confirming their identity online.
Treasury officials have stated that payments this year will be made on a rolling basis, starting in November.
The state has been offering ANCHOR benefits, which provide New Jersey taxpayers with tax refunds of up to $1,750, for the past three years. According to a WalletHub analysis, property owners in the Garden State paid an average of $9,803 in property taxes in 2023, an increase of $300 from the previous year. This state has the highest property tax rate in the nation.
More than 1.8 million residents received refunds for the 2020 tax year, according to Treasury officials, who said the program paid more than $2 billion last year. The amount paid varied from $450 to $1,500, with an extra $250 going to applicants who were over 65.
The ANCHOR call center has been improved, according to officials, who also included an automatic callback option that lets people be put in a queue rather than put on hold and doubled the number of representatives on hand to answer calls.
You may find out more about the program at
anchor.nj.gov. The ANCHOR hotline can be reached at
(609) 826-4282 or
1-888-238-1233, and applicants can also visit a
Regional Information Center in person for assistance.
