Gov. Murphy discusses tax relief through ANCHOR Program in NJ
In discussing his state budget for 2025, Gov. Phil Murphy talked about tax relief through ANCHOR Program for New Jersey residents.
New Jersey’s Division of Taxation will kick off the upcoming season of the ANCHOR property tax relief program on Monday, mailing letters to approximately 1.5 million residents to confirm their automatic eligibility.
The program, now in its third year, is part of ongoing efforts to make the state more affordable, according to officials.
“From day one, our administration has strived to make New Jersey more affordable,” said Gov. Phil Murphy. “The ANCHOR program continues to deliver on our promise of increasing affordability for millions of New Jerseyans.”
Since its inception in 2022, the ANCHOR program has provided significant property tax relief to nearly 2 million residents, according to State Treasurer Elizabeth Maher Muoio.
“This program is inclusive of New Jerseyans at all stages of life, from young renters to retirees,” Muoio said.
Changes to ANCHOR tax rebates
This year, the Division of Taxation has implemented several changes aimed at simplifying the application process for new applicants. Most homeowners and renters who received benefits last year will have their applications filed automatically, with notification letters going out beginning Aug. 19.
For those who need to update personal information, such as their mailing address or banking details, a new application will be required by Sept. 15.
The state will begin distributing payments on a rolling basis in November. The application deadline is Nov. 30.
In addition to confirming eligibility for existing beneficiaries, the Division of Taxation will send application mailers to over 2 million residences beginning Aug. 26 in an effort to reach those who have not previously applied.
Last season’s program, covering the 2020 tax year, distributed more than $2.1 billion in benefits to over 1.8 million homeowners and renters, with payments ranging from $450 to $1,500. Seniors received an additional $250.
New applicants and those requiring further verification will need to go through additional identity checks, either online via ID.me or in person at one of the Division’s Regional Information Centers.
In a bid to streamline the process further, the Division has launched a new online application system, eliminating the need for paper applications for those required to submit supporting documents. Paper applications will remain available for those who prefer them.
To improve customer service, the Division has doubled the number of agents available to assist callers and implemented an automatic callback feature for the ANCHOR hotline.
“This program provides direct financial assistance for homeowners and renters who need it most,” said Senate President Nick Scutari. “ANCHOR will deliver much-needed relief to help ease the burden of property taxes for middle-class families, senior citizens, and working people throughout the state.”
