Time is running out for New Jerseyans looking to file for their 2020 Affordable New Jersey Communities for Homeowners and Renters property tax benefit. Despite it being near the end of 2023, the state continues to accept ANCHOR applications for 2020 through Friday, December 29th of this year.
The ANCHOR program is a property tax relief initiative that extends benefits to eligible homeowners and renters in the state. The initiative is managed by the New Jersey Division of Taxation and caters to homeowners who are 65 years or older with earnings of $150,000 or less.
Residents who have not yet filed for this benefit or are uncertain about the state's receipt of their application can check the status on the official ANCHOR website. This year, the application process is likely to be simpler, as the state has the necessary information about many residents for the first time utilizing data from the 2019 benefit year.
Applications to participate in the program can be submitted online - or an application can be printed, completed, and mailed in. All mailed applications need to be postmarked by the December 29th to be considered valid. Benefits are typically provided in either the form of a paper check or by direct deposit.
An estimated 1.7 million New Jersey taxpayers are eligible to participate in the program. It replaced the Homestead Benefit and Senior Freeze programs.