How Much Is the NJ ANCHOR Benefit?

The New Jersey ANCHOR (Affordable New Jersey Communities for Homeowners and Renters) program offers property tax relief to eligible residents. This initiative provides financial assistance to individuals who own or rent their primary residence in New Jersey. The program aims to reduce the property tax burden for qualifying homeowners and renters across the state.

Determining Your Benefit Amount

The amount of ANCHOR benefit an applicant receives varies based on their status as a homeowner or renter, and their gross income. For the 2024 tax year, homeowners with a New Jersey gross income of $150,000 or less are eligible for a $1,500 benefit. Homeowners whose gross income falls between $150,001 and $250,000 can receive a $1,000 benefit. Renters with a New Jersey gross income of $150,000 or less are eligible for a $450 benefit.

An additional benefit is available for residents aged 65 or older as of December 31, 2024. These applicants receive an extra $250, increasing their total possible benefit. This means homeowners aged 65 or older could receive up to $1,750, and renters aged 65 or older could receive up to $700.

Meeting Eligibility Requirements

To qualify for the ANCHOR benefit, applicants must meet specific criteria related to their residency and property status for the 2024 tax year. All applicants must have been New Jersey residents who owned or rented their principal residence in the state on October 1, 2024. The property, whether owned or rented, must have been subject to local property taxes.

Renters must also have had their name on the lease or rental agreement and actively paid rent for their primary residence. Meeting all of these requirements is necessary to be considered eligible for the program.

Completing and Submitting Your Application

The application process for the ANCHOR benefit involves specific steps to ensure all necessary information is provided. Most eligible New Jersey residents under 65 years old and not collecting Social Security disability benefits may have their applications automatically filed by the state. Confirmation letters detailing this automatic filing began being sent out on August 13, 2025. If an applicant needs to update their banking information or prefers to receive a paper check, they must file their own application by September 15, 2025.

Residents aged 65 or older and those receiving Social Security disability benefits are required to file their own application using the combined Property Tax Relief (PAS-1) form. For online applications, identity verification is now conducted through ID.me, eliminating the need for an ANCHOR ID and PIN. Applicants should have their New Jersey Taxpayer Identification Number or Social Security Number, and for homeowners, property details such as County/Municipality Code, Block/Lot/Qualifier, and property tax amounts readily available. Additionally, income details from your 2024 New Jersey income tax return (NJ-1040) will be required. The final deadline for submitting an ANCHOR application for the 2024 tax year is October 31, 2025.

Understanding Benefit Distribution

After an ANCHOR application is submitted and approved, the distribution of benefits follows a set timeline and method. Payments for the 2024 tax year are scheduled to begin on September 15, 2025, and will continue on a rolling basis. Most applicants can expect to receive their benefit within 90 days of filing their application, assuming no additional information is required.

Benefits are typically disbursed either through direct deposit into a bank account or via a physical check mailed to the applicant’s address. Applicants can check the status of their ANCHOR benefit application online through the New Jersey Division of Taxation’s website. This online tool usually requires the applicant’s Social Security Number or Individual Taxpayer Identification Number and ZIP code. For further assistance or to inquire about a payment, individuals may contact the ANCHOR hotline.