Update 8/18/23: Back for 2023 (ht HarryTheFirstHarry)
Reader HarryTheFirstHarry sent in a tip that most New Jersey residents can get a cash payment for property tax relief. The payment amount is $1,500 if you are a homeowner or $450 in you are a renter. This is called the ANCHOR benefit program.
There is an income limit of $150,000 – that’s based on your 2019 NJ MAGI income. Homeowners with MAGI of between $150,000 – $250,000 get $1,000.
The deadline to file was initially December 31, 2022, but has been extended through February 28, 2023. You can call to get a pin if you have not received it.
These benefits will get paid in late spring of 2023. ANCHOR benefits will be paid in the form of a direct deposit or check, not as credits to property tax bills. Should take just a few minutes to get up to $1,500 with this credit.
