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This is the first time taxpayers in New Jersey will receive ANCHOR refunds

This is the first time taxpayers in New Jersey will receive ANCHOR refunds


3 minute read

Eligible New Jersey residents will soon see the latest round of ANCHOR property tax relief disbursements in their bank accounts or mailboxes.

The state Department of Revenue confirmed that payments will begin being sent out in mid-October and that most eligible applicants will receive their payments approximately 90 days after filing, unless the state requires further information.

When is the deadline to apply for an ANCHOR discount?

For those who have not yet filed a new application, the deadline is Nov. 30, but the state sent benefit confirmation letters in August to those who received a payment in the last cycle to let them know that their application was consistent with last year's application information was submitted.

Anyone who still has questions or concerns about an application can attend an in-person ANCHOR outreach event to receive one-on-one support. There are dozens of events across the state. For a complete list, visit the Tax Department's website at nj.gov/treasury/taxation/anchor/events.shtml.

What you should know: NJ ANCHOR payment arrives; Are you entitled to a property tax refund?

What is the ANCHOR program?

This is the third payout since the program was launched. In the second round, more than $2.1 billion was distributed to more than 1.8 million homeowners and renters across the state.

According to the Department of Revenue, it is the largest property tax relief program in state history. These payouts included an additional $250 for eligible homeowners and renters over the age of 65. Payments were made to more than 1.2 million homeowners and about 579,000 renters, ranging from $450 to $1,750.

Katie Sobko covers the New Jersey Statehouse. Email: [email protected]

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