New Jersey Residents to Receive Property Tax Relief Payments Soon

Trenton, New Jersey – Relief is arriving for New Jersey homeowners and renters as property taxes rise across the state. Beginning this week, eligible residents will start receiving payments under the Anchor program.

The Anchor program offers property tax relief to residents who own or rent their primary home and meet specific income requirements. This year’s payments are calculated based on residency, income, and age as of 2024.

Payments will begin on Monday, September 15, and will be distributed on a rolling basis. Most applicants can expect to receive their payments within 90 days of application, barring any requests for additional information.

Residents applying through a paper application will receive their payments by check, while those applying online can opt for direct deposit. The total benefit amount cannot exceed the property taxes paid on the primary residence for the qualifying year.

The deadline to apply for the Anchor program is October 31. However, for those wishing to receive paper checks, applications must be submitted by September 15. This date also serves as a cutoff for changing bank account details for those already confirmed as eligible.

The New Jersey Treasury Department warns residents to stay vigilant and check the status of their rebates through provided channels. More information can be obtained from local sources.