Governor Phil Murphy, Senate President Nicholas Scutari, and Assembly Speaker Craig Coughlin today announced that the State of New Jersey is extending the application deadline and expanding eligibility for the new ANCHOR property tax relief program and will embark on an aggressive advertising and marketing campaign to make sure every eligible New Jerseyan takes advantage of the sizable relief.
In doing so, the leaders announced that the application deadline is being extended to January 31, 2023, giving taxpayers an extra month to apply. Additionally, tenants (renters) who had previously been ineligible because their unit is under a PILOT (Payment in Lieu of Taxes) agreement 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 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.”
Treasury’s Division of Taxation is also actively soliciting proposals for a statewide marketing and advertising campaign to build upon the organic promotional efforts that have been undertaken to date in order to increase general awareness of the new program, make sure tenants know they are eligible, and make taxpayers aware of the new changes.
“For the residents of New Jersey, affordability is the most pressing issue and property taxes are the greatest burden,” said Senate President Nick Scutari. “We are making use of resources to address this need by helping homeowners and renters with direct financial assistance. Extending the deadline will give our residents a greater ability to take advantage of a program that will help make their lives more affordable.”
“When we say we are delivering bold, direct property tax relief to working and middle-class New Jerseyans we mean it,” said Assembly Speaker Craig J. Coughlin. “Expanding eligibility for renters and extending the deadline only strengthens that commitment and ensures all who need relief will have the time and awareness to benefit. I thank the Governor, the Senate President, and all our legislative partners for coming together – this truly remains a game-changer for folks who have seen their budgets stretched further and further.”
“We have been working around the clock since ANCHOR’s launch in September to make sure every New Jersey resident is aware of this new program and to answer as many questions as possible,” said State Treasurer Elizabeth Maher Muoio. “With even more people eligible now, we thought it wise to extend the deadline and boost awareness.”
“I am very grateful to the Governor, Senate President, Speaker and Treasurer for responding as quickly as they have to make renters in buildings with a PILOT eligible for the Anchor Program,” said Senator Joe Vitale. “I alerted them to the issue immediately after receiving a call from a constituent who pays market rate rent in a building whose occupancy is dedicated to veterans. Within two weeks they are announcing a fix to the problem. This is another great example of how one person’s decision to take action will make a difference for thousands of New Jersey renters and ensure this important tax relief reaches everyone it is intended to reach.”
Under the ANCHOR program, 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 going out in late spring, regardless of when taxpayers file. Payments will be issued in the form of checks or direct deposits and are not subject to federal or State income tax.
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 NJ 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 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.