NJ residents who received ANCHOR tax rebate will receive next one automatically

Katie Sobko, NorthJersey.com
Updated ·2 min read

For residents who received an ANCHOR property tax benefit during the program’s first year, the process is going to be even easier this time around, the Department of the Treasury says.

The state announced Tuesday that more than 1.3 million of the residents who received payments from the program earlier this year can soon expect a letter in the mail confirming their eligibility and letting them know that they don’t need to file a new application.

The Division of Taxation started mailing the letters Tuesday. They include information on how recipients will receive their benefit and confirmation of their mailing address and bank information. If none of their information has changed, the recipient is set to go and doesn’t need to file a new application.

Those who do need to update their information must do so online by the end of September.

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According to Treasury, the Division of Taxation identified more than 1.3 million of the 1.7 million ANCHOR recipients from last season whose qualifying information has not changed. The remaining 400,000 people in this group fell into one of these categories:

  • Filing characteristics changed between 2019 and 2020; income or address changes, bought a home rather than rented, etc.;

  • There was a change in property ownership, or;

  • There was a death, marital change, banking change, or some other verification factor that prevented the Division of Taxation from confirming all information from last season remains the same.

Treasury will also start mailing applications later this month in an effort to reach additional homeowners and renters. Those applications are due by Dec. 29.

The payments for the second year of the program are expected to be sent by Nov. 1, just six months after the first and a week before all 120 seats in the Legislature are up for grabs.

Last year, more than 1.7 million renters and homeowners applied for and received payments, ranging from $450 to $1,500, under the program covering the 2019 tax year.

ANCHOR replaced the Homestead Benefit. More than 870,000 homeowners with incomes up to $150,000 will be eligible to receive $1,500 in relief; more than 290,000 homeowners with incomes over $150,000 and up to $250,000 will be eligible to receive $1,000; and more than 900,000 renters with incomes up to $150,000 will be eligible to receive $450 to help offset rent increases.

This year, seniors will receive an additional $250.

State Treasurer Elizabeth Maher Muoio said in a statement that the “Division of Taxation has worked diligently to build off the success of last year’s ANCHOR program and ensure every eligible New Jersey resident receives this crucial property tax relief.”

This article originally appeared on NorthJersey.com: ANCHOR tax rebate NJ details for next application