Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) replaces the Homestead Benefit program
You are eligible if you meet the following requirements:
- New Jersey resident; and
- Homeowner and occupied a home in New Jersey that was your main residence on October 1, 2019; and
- 2019 Property taxes were paid on that home; and
- NJ Gross Income was $250,000 or less (See Line 29 of your 2019 NJ Tax Return)
Please use this link to see if you qualify https://www.state.nj.us/treasury/taxation/anchor/home.shtml
If you were not a homeowner on October 1, 2019, you are not eligible for a homeowner benefit, even if you owned a home for part of the year.
Tenants are eligible for this program as well, but there are different requirements. You were a New Jersey resident; and
- Your 2019 New Jersey gross income was not more than $150,000; and
- You rented and occupied a residence in New Jersey that was your principal residence (main home) on October 1, 2019; and
- Your name was on the lease or rental agreement; and
- You paid rent; and
- Your unit had its own separate kitchen and bath facilities if the building consisted of multiple units; and
- The rental property was subject to local property taxes
Please use this link to see if you qualify https://www.state.nj.us/treasury/taxation/anchor/tenant.shtml
How can you file?
You can file online or by phone (877) 658-2972, unless you are required to file a paper application.
Link to file online https://www1.state.nj.us/TYTR_Saver/jsp/common/HBWelcome.jsp
The state will also be mailing out paper applications starting September 19th through September 30th, or if your email is on file with the state of NJ they may send you, or have already sent you, an email with information on how to apply online.
You may obtain the pin online if you filed a 2018 Homestead Benefit application and are eligible for the same property. https://www20.state.nj.us/TYTR_Saver_Email/jsp/SaverEmailLogin.jsp
The filing deadline for the ANCHOR Application - Tax Year 2019 - is December 30, 2022.
How are benefits calculated and paid?
The benefit is calculated using your 2019 New Jersey Gross Income and cannot exceed the amount of property taxes paid. If your 2019 Gross Income exceeded $250,000, you are not eligible.
2019 Gross Income (NJ-1040 Line 29) of $150,000 or less = $1,500.
2019 Gross Income (NJ-1040 Line 29) $150,001 to $250,000 = $1,000.
New Jersey Homeowners who are not required to file a New Jersey Gross Income Tax return (NJ-1040) are eligible for a Property Tax Credit of up to $50. If you were a resident homeowner on October 1, 2019, and were not required to file an NJ-1040, your Property Tax Credit will be included in your ANCHOR benefit payment.
The total amount of all property tax relief benefits you receive cannot be more than the property taxes paid on your main home for the same year (ANCHOR benefit, Senior Freeze, Property Tax Deduction for senior citizens/disabled persons, and Property Tax Deduction for veterans).
During the filing process, you will select if you want your benefit paid as a direct deposit or by paper check. 2019 ANCHOR benefits are expected to be paid in May 2023.