Application deadline for homeowners’ and renters’ property tax relief is January 31, 2023

| Photo by Breno Assis on Unsplash

NEW JERSEY – The New Jersey Treasury, Division of Taxation reminds taxpayers that the application deadline for the new Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) property tax relief program is January 31, 2023. Tenants/Renters who had previously been ineligible because their unit is under a PILOT (Payment in Lieu of Taxes) are now eligible to apply for the benefit.

“In order to achieve meaningful relief for hard-working taxpayers, we must expand access and improve awareness of our efforts to promote affordability and opportunity in New Jersey,” said Governor Phil Murphy. “I want to thank our partners in the Legislature once again for sharing our commitment to deliver real property tax relief to as many people as possible. Whether you’re a homeowner or a renter, New Jersey will remain the best state to live, work, and raise a family.”

Under the ANCHOR program, which was launched last September, both the size of the benefit and the number of eligible applicants has increased substantially compared to the previous Homestead Benefit (which ANCHOR is replacing), including double the amount of homeowners and nearly a million tenants who had not been eligible for property tax relief in recent years.

Over 870,000 homeowners with incomes up to $150,000 will receive $1,500 in relief; over 290,000 homeowners with incomes over $150,000 and up to $250,000 will receive $1,000; and over 900,000 renters with incomes up to $150,000 will receive $450 to help offset rent increases.

All payments will begin in late spring, regardless of when taxpayers file. Payments will be issued through checks or direct deposits, not as credits to property tax bills. These are not subject to federal or state income tax.

According to the Treasury Division, homeowners who filed a Homestead Benefit application last year may be able to obtain their ID and PINs online. Renters/Tenants do not need an ID or PIN to file.

To be eligible for this year’s benefit, homeowners and renters must have occupied their primary residence on October 1, 2019, and file or be exempt from New Jersey income taxes.

Eligible homeowners can apply online, by phone, or via paper application, which can be downloaded online and returned by mail. Tenants can apply online or download the application from the Taxation website and return it by mail (there is no phone option for tenants, as this is the first time this group will be eligible for property tax relief).

Applicants are encouraged to consult the detailed information posted on the Division of Taxation’s website, including an extensive list of Frequently Asked Questions, before calling the ANCHOR hotline. For more information, visit nj.gov/treasury/taxation/anchor/ or call the ANCHOR hotline at 1-888-238–1233.

–With Jay Domingo/PDM