ANCHOR Replaces the Homestead Rebate, Makes Owners/Renters Eligible for Relief

ANCHOR provides property tax relief to New Jersey residents who owned or rented their principal residence (main home) on October 1, 2019, and met the income limits.

The filing deadline for the ANCHOR Application for Tax Year 2019 is February 28, 2023.

ANCHOR Home Owner

You are eligible if you met these requirements:

• You were a New Jersey resident; and
• You owned and occupied a home in New Jersey that was your principal residence (main home) on October 1, 2019; and
• 2019 property taxes were paid on that home; and
• Your 2019 New Jersey gross income was $250,000 or less.

If you were not a homeowner on October 1, 2019, you are not eligible for a homeowner benefit, even if you owned a home for part of the year.

ANCHOR Tenant

You are eligible for a 2019 ANCHOR benefit if you met these requirements:

• You were a New Jersey resident; and
• Your 2019 New Jersey gross income was not more than $150,000; and
• You rented and occupied a residence in New Jersey that was your principal residence (main home) 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

The deadline for filing your ANCHOR benefit application is February 28, 2023. ANCHOR benefits will be paid in the late Spring of 2023 in the form of a direct deposit or check, not as credits to property tax bills.