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.
I’m a bit confused. It appears that the “date to file by” has already passed. What am I missing?
this is an update from last years “deal” – the deadlines correspond to last years. Read the link to get this years.
I am confused. I have a 2020 mailed notice with filing deadline 12/29/23.
One of the information you need to file is NJ Gross income from line 29 of 2020 or 2022 NJ 1040. Why have they included 2022 for qualifying in 2020;s filing?
And why not 2021?
I was renting in jersey in 2020 but now i live in NY and have a NY license. It wont let me put in the NY license and qualify me.
Any advice or info? Could i put in my expired NJ license and it will work??
Do renters in NJ pay property tax direct to the state?
No
No, but part of the rent indirectly goes toward paying the landlord’s property taxes. There is a formula on the NJ state taxes for a deduction.
Does an owner-occupied property get a higher rebate than one that is rented? If not, that doesn’t seem “fair”
… New Jersey residents who own or rent property in New Jersey as their principal residence and meet certain income limits.
Just a heads up , most people with a decent job eat clear the $150,000 number . This includes teachers , fire fighters , police officers . Just another handout to the Democratic base . Give handout and come out and vote for us while we waste your money on leftest progressive issues t
Are you trying to claim that “most people” (meaning more than 50%) of NJ residents make $150K or more? If so, you are badly mistaken.
Yes, the rebate is significantly higher for property owners than it is renters.
“The payment amount is $1,500 if you are a homeowner or $450 in you are a renter.”
Thank you for understanding my not so clearly written question. Yes, that was my question. I admit I didn’t do a lot of research before asking, since it doesn’t apply to me. That makes it seem a bit odder … if they’re saying they collected too much property tax, and they want to refund the non-owner-occupant a share of it, how come the owner doesn’t get a refund for the rest? ($1050)
signed papers to transfer deed on oct 3, 2020? any idea on what to do now?
Who has higher property taxes, NJ or Texas ?
NJ. And income tax. And snow.
And Camden
And higher taxes on everything else also . They will cut a finger off if you vote republican as well
This program started because NJ over taxed us and had a surplus of money, I got my funds in a check last month
this reminds me of an Army cadence “They say that in the Army the pay is mighty fine
they give you a hundred dollars and take back ninety-nine…”
I thankfully moved out of NJ years ago. I believe this is what used to be called a “homestead rebate “. Nothing new.
Extremely expanded homestead rebate.
$1500 relief vs 15K annual tax bill, 10% off
They’ll turn around and charge you income tax on the $1500.
🙂