New Jersey homeowners and renters will soon be receiving Affordable New Jersey Communities for Homeowners and Renters, aka ANCHOR, property tax relief payments in their mailboxes and bank accounts.
Last year, the Garden State issued more than 2 million rebates totaling approximately $2.3 billion, and state officials expect a similar payout this year.
New Jersey Department of the Treasury officials confirmed that they began mailing out nearly 1 million auto-file letters to residents last week. The letter informs residents that they received an ANCHOR payment last year, and that their new ANCHOR applications have been automatically filed.
Marita R. Sciarrotta, director of the New Jersey Division of Taxation, is advising residents to make sure the information in the letter is accurate…
The type of ANCHOR benefit is determined by where a resident lived on Oct. 1, 2024.
James Hughes, dean emeritus of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University, said the ANCHOR program especially benefits low-income households in the Garden State.
“They’re living on the edge right now, they’re really stretched,” he said. “We’re in a higher inflation era both now with high energy costs and for what may be coming, because of the [Trump administration] tariffs, any benefit they can receive will be helpful.”
Hughes said that in addition to high property taxes, New Jersey also has many apartments with high rents, which puts an additional strain on many families.