If you were a NJ resident on October 1, 2019, and either owned or rented your main home (principal residence), then this info is for you.
If you’ve been a NJ resident for a few years, you may be familiar with the NJ Homestead Benefit. In August 2022, it was announced that the Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) program would replace the Homestead Benefit for the 2019 tax year.
We’ll detail the eligibility criteria, filing deadlines and tips to make the application process as simple as possible for you.
ELIGIBILITY
Homeowners are eligible if:
You were a NJ resident; and
You owned and occupied your NJ home as your principal residence on October 1, 2019; and
2019 property taxes were paid on that home; and
2019 NJ gross income was $250k or less
Tenants are eligible if:
You were a NJ resident; and
Your 2019 NJ gross income was $150k or less
You rented and occupied a residence in NJ home as your principal residence on October 1, 2019; and
Your name was on the lease or rental agreement; and
You paid rent; and
Your unit had its own separate kitchen and bath facilities, if the building consisted of multiple units; and
The rental property was subject to local property taxes
CREDIT AMOUNT
$1,500 for homeowners with income of $150k or less
$1,000 for homeowners with income between $150k - $250k
$450 for tenants/renters with income of $150k or less
DUE DATE
The filing deadline has been extended from December 30, 2022 to February 28, 2023.
WHERE TO APPLY
Click here to file electronically for the 2019 tax year. You’ll receive a mailer or email with your ID and PIN, which you’ll need to apply if you’re a homeowner. Tenants do not need an ID or PIN number to file.
If you are a homeowner and did not receive the mailer or email notification, but you filed a Homestead Benefit application last year, you may be able to retrieve your ID and PIN numbers via the online system.
If you are a homeowner and did not receive the mailer or email notification, and you didn’t file a Homestead Benefit application last year, you'll need to call the ANCHOR Hotline at 1-888-238-1233.
Most NJ residents will be able to apply electronically and if you are, you’re encouraged to do so. If you are unable to apply online for any of these reasons, you’ll need to submit a paper application (paper applications are linked here, and are different for homeowners and tenants).
WHEN TO EXPECT THE PAYMENT
NJ will begin paying ANCHOR benefits in the late Spring of 2023. ANCHOR payments will be paid in the form of a direct deposit or check.
Note that all property tax relief program information provided here is based on current law and is subject to change. If you have any questions about your ANCHOR application or eligibility, please don’t hesitate to contact the ASE Group team.
