New Jersey residents who have already applied for New Jersey Affordable Communities for Homeowners and Renters (ANCHOR) will begin receiving those payments soon.
Additionally, those who have not applied still have several weeks to ensure they receive their benefits.
Here we explain what ANCHOR benefits are and how to check your benefit status in New Jersey.
What is New Jersey's ANCHOR program?
According to New Jersey Department of TaxationThe ANCHOR program provides property tax relief to New Jersey residents who own or rent property in New Jersey, use it as their primary residence, and meet certain income limits.
This year's ANCHOR benefits will be determined based on your residence, income, and age from 2021.
New Jersey homeowners who are under 64 and have a gross income of less than $150,000 in 2021 will receive $1,500. Homeowners who were 65 or older in 2021 will receive $1,750.
New Jersey renters who were 64 or younger in 2021 would receive $450, and renters who were 64 or older in 2021 would receive $700.
Check ANCHOR status
New Jersey residents can check: ANCHOR benefit status online.
If you have not yet applied for NJ ANCHOR benefits, the New Jersey Department of Taxation advises: still online.
“Most homeowners file online and Identification number (ID), PINpasscode, or by using the ID.me verification feature,” the New Jersey Department of Taxation’s ANCHOR website states. “However, if you purchased a home in 2021, changed your deed, or had certain life changes, such as divorce or death, your spouse can file using the Special Circumstances Application. You must.”
New Jersey residents have until Saturday, November 30th to apply for ANCHOR benefits.
NJ anchor payment
ANCHOR benefits will be received several weeks after your application is submitted and received.
New Jersey's ANCHOR information website states, “We will begin distributing ANCHOR benefits in the fall and continue on a rolling basis.” “Most applicants will receive payment within approximately 90 days of filing, unless additional information is required to process the claim.”
Damon C. Williams is a Philadelphia-based journalist reporting on trending topics throughout the Mid-Atlantic region.
