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    • ANCHOR property tax refunds in NJ letters will be mailed soon
    Idaho

    ANCHOR property tax refunds in NJ letters will be mailed soon

    Madoc Meredith Posted on

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    The New Jersey State Tax Commission will kick off the new season of the ANCHOR property tax relief program on Monday, sending letters to approximately 1.5 million residents to confirm their automatic eligibility.

    The program, now in its third year, is part of an ongoing effort to make the state more affordable, officials said.

    “From day one, our administration has sought to make New Jersey more affordable,” said Governor Phil Murphy. “The ANCHOR program continues to deliver on our promise to increase affordability for millions of New Jerseyans.”

    Since its launch in 2022, the ANCHOR program has provided significant property tax relief to nearly 2 million residents, according to State Treasurer Elizabeth Maher Muoio.

    “This program is for New Jersey residents at all stages of life, from young renters to retirees,” Muoio said.

    Changes to ANCHOR tax refunds

    This year, the IRS has introduced several changes designed to simplify the application process for new applicants. For most homeowners and renters who received benefits last year, applications will be submitted automatically and notification letters will begin to be sent out on August 19.

    Anyone who needs to update personal information such as postal address or bank details must submit a new application by September 15.

    The state will begin distributing payments on a rolling basis in November. The application deadline is November 30.

    In addition to confirming eligibility for existing beneficiaries, the tax authority will send application letters to over 2 million households starting August 26 to reach those who have not yet applied.

    Under last year’s program, which covered the 2020 tax year, more than $2.1 billion in benefits were paid to more than 1.8 million homeowners and renters, with payments ranging from $450 to $1,500. Retirees received an additional $250.

    New applicants and those requiring further verification must complete additional identity checks, either online through ID.me or in person at one of the department’s regional information centers.

    To further streamline the process, the department has launched a new online application system that eliminates the need for paper applications for those who need to submit supporting documents. Paper applications will remain available for those who prefer them.

    To improve customer service, the department has doubled the number of agents available to callers and implemented an automated call-back feature for the ANCHOR hotline.

    “This program provides direct financial assistance to homeowners and renters who need it most,” said Senate President Nick Scutari. “ANCHOR will provide much-needed relief to reduce the property tax burden on middle-class families, retirees and workers across the state.”

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    Madoc Meredith
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