Ministry of Finance, Taxation Bureau begins distributing ANCHOR property tax relief benefits to eligible homeowners and renters
Benefits distributed in stages
(TRENTON) – More than 1 million New Jerseyans will receive up to $1,750 over the next week as the first round of ANCHOR property tax relief benefits are distributed to eligible homeowners and renters. Masu.
More than 900,000 direct deposit payments were scheduled to be deposited into bank accounts on Thursday, October 10th, and approximately 100,000 checks were mailed on Friday, October 11th. Payments will be distributed in stages until all eligible applicants have received their benefits.
The majority of the first round benefits will be distributed to auto-filing applicants. This means that anyone who received ANCHOR benefits last season and received an ANCHOR Benefits Confirmation Letter confirming their application this summer will automatically apply using the information they already have on file. Tax department. More than 1.5 million applications were automatically submitted this season.
“I’m proud to be able to deliver this important tax relief directly to New Jersey families, putting money back in the pockets of both homeowners and renters,” said Governor Phil Murphy. “The ANCHOR program makes tax relief convenient and available to families. It’s part of our promise to make New Jersey stronger, fairer, and more affordable.”
“The ANCHOR program provides critical property tax relief to millions of New Jerseyans at every stage of life,” said State Treasurer Elizabeth Maher Muoio. “From automatic filing for the vast majority of eligible taxpayers to ensuring timely distribution of benefits, we would like to thank the Department of Revenue’s dedicated staff for their efforts in making this program more convenient and accessible each filing season. “I think so.” ”
“We are maintaining our commitment to affordability by providing historic levels of property tax relief to New Jersey homeowners and renters,” said Senate President Nick Scutari. “ANCHOR provides much-needed relief to reduce the property tax burden for middle-class families, seniors, and working people across the state. We provide direct financial assistance.”
“We passed the largest property tax relief program in state history, providing billions of dollars to New Jersey families,” said Assembly Speaker Craig J. Coughlin. “ANCHOR has made our state more affordable and eased the burden on homeowners and renters alike. Now in its third year, the scheme is effectively supported by the Treasury Department. Governor Murphy, his team, and his colleagues in the Legislature for delivering affordable policies, including additional property tax relief for seniors through StayNJ. Thank you.”
Most new applicants will receive their benefits within 90 days of applying, unless further information is needed to verify the application. The deadline for submitting new applications is November 30, 2024. To date, the Department of Revenue has received approximately 225,000 new applications for the current ANCHOR season.
Applicants can check their benefit status online at anchor.nj.gov. The Benefits Status Checker is updated twice a week, so claimants can receive new information about their claim status up to twice a week.
This season marks the third year the state has distributed ANCHOR benefits. Last season’s program for the 2020 tax year distributed more than $2.1 billion in benefits to more than 1.8 million homeowners and renters, making history as the state’s single largest property tax relief package. left behind. Payments range from $450 to $1,500, with an additional $250 for applicants 65 and older.
Information about the program, including detailed FAQs for homeowners and renters, is available at anchor.nj.gov. Applicants may also call the ANCHOR hotline at (609) 826-4282 or 1-888-238-1233. Phone lines may be busy during ANCHOR season. As such, applicants may choose to seek assistance directly at regional information centers or at one of the many assistance events being held across the state this fall.
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