November 21, 2022
New Jersey has extended the application deadline for the new Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) property tax relief program until January 31, 2023. The original application deadline was one month earlier, December 31, 2022. The extension will allow more time for advertising and marketing to make sure every eligible New Jerseyan is informed of this relief and has the opportunity to take advantage of it.
Renters who had previously been ineligible because their units are under Payment in Lieu of Taxes (PILOT) agreements are now eligible to apply for the benefit.
Homeowners with incomes up to $150,000 will receive $1,500 in relief; homeowners with incomes of $150,000 and up to $250,000 will receive $1,000; and renters with incomes up to $150,000 will receive $450 to help offset rent increases. As reported on njbmagazine.com, these groups consist of as many as 870,000 and 290,000 homeowners with the income levels noted above, respectively and 900,000 renters.
As reported on wrnjradio.com, Governor Phil Murphy was quoted saying, "In order to achieve meaningful relief for hard-working taxpayers, we must expand access and improve awareness of our efforts to promote affordability and opportunity in New Jersey . . . I want to thank our partners in the Legislature once again for sharing our commitment to deliver real property tax relief to as many people as possible. Whether you're a homeowner or a renter, New Jersey will remain the best state to live, work, and raise a family."
State Treasurer Elizabeth Maher Muoio was also quoted, saying, "We have been working around the clock since ANCHOR's launch in September to make sure every New Jersey resident is aware of this new program and to answer as many questions as possible . . . With even more people eligible now, we thought it wise to extend the deadline and boost awareness."
Click here to read more on this story, and click here to apply for the ANCHOR tax relief program and for more information.