New Jersey distributes over $520 million in ANCHOR tax relief

New Jersey has distributed over $520 million in ANCHOR property tax relief payments to approximately 379,000 residents. The distribution includes roughly $489 million sent to 335,000 homeowners and over $31 million to 44,000 renters.

Payments are being issued in waves. While seniors have begun receiving funds, residents under the age of 65 who were automatically enrolled are expected to see payments around mid-October. Eligible homeowners earning up to $150,000 receive $1,500, while those earning up to $250,000 receive $1,000. Notably, the $250 bonus previously provided to senior homeowners was eliminated in the most recent state budget, though senior renters still receive a $250 bonus on top of their base benefit.

Residents who did not receive a confirmation letter or payment may need to apply manually. Seniors must use the PAS-1 application, while those under 65 should use the ANC-1 form. The deadline to apply for the program is November 2.