(MENAFN- Live Mint) ayments for the ANCHOR program - Affordable New Jersey Communities for Homeowners and Renters - began rolling out on September 15, though residents still have time to apply for their benefits. The program aims to provide tax relief to New Jersey homeowners and renters facing high property taxes.

Payment timeline

Residents who apply can expect to receive their ANCHOR payments within 90 days of submission. Payments are being sent on a rolling basis, with options for direct deposit available for online filers, while paper form applicants will receive checks automatically.

Checking payment status

Applicants can track their payment status using the“check benefit status” tool available on the ANCHOR website.

Benefit amounts

Homeowners 65 or older: up to $1,750

Homeowners under 65: up to $1,500

Renters 65 or older: up to $700

Renters under 65: up to $450

Benefit amounts are income-based and cannot exceed property taxes paid during the qualifying year.

Eligibility criteria

Homeowners: Must have owned and lived in their NJ residence as of October 1, 2024, paid property taxes, and earned $250,000 or less in 2024 gross income.

Renters: Must have rented and occupied a taxable rental unit on October 1, 2024, paid rent, and earned $150,000 or less in 2024 gross income.

For residents 65 or older or those receiving Social Security disability benefits, a single combined application covers ANCHOR, Senior Freeze, and Stay NJ programs. Eligibility is determined by the state, and a benefits letter will be sent at the end of the year.

How to apply

Eligible homeowners and renters under 65 who do not receive Social Security disability benefits may have automatically filed on September 15 using information from prior applications. Confirmation letters were mailed in August.

Residents who did not receive a letter can apply online, with the application open until October 31, 2025.

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