Tax Tip #156

The NJ Affordable NJ Communities for Homeowners & Renters (ANCHOR) is back for year 2. Unlike 2022, for 2023 it is possible nothing needs to be done in order to receive the real estate tax or renter rebate. If the bank account information used for the NJ ANCHOR has not changed from last year to this year, then the eligible rebate amount should be received by 11/1/2023. If the bank account information needs to be updated, then log on to 

https://www1.state.nj.us/TYTR_Saver/jsp/common/HBWelcome.jsp & a PIN & ID# is needed which is provided by mail (for homeowners only, not renters) & must be completed by 9/30/2023.

The benefit is based on information from 2020.

For those who did not receive the NJ ANCHOR rebate in the prior year, the deadline for ap¬plying is 12/29/2023.

Homeowners can also file by phone 877-658-2972.

Qualifications: Renters: 2020 NJ Gross Income < $150K & Homeowners < $250K

Maximum Benefit: Homeowners: $1,500 but for senior citizens over age 65, $1,750 & $450 for renters but for senior citizens over age 65, $700.

Homeowners can file a paper application:

https://www.state.nj.us/treasury/taxation/pdf/anchor/anchor-h.pdf

Renters can file a paper application:

https://www.state.nj.us/treasury/taxation/pdf/anchor/anchor-t.pdf

To check the status of the ANCHOR benefit:

https://www1.state.nj.us/TYTR_Saver/jsp/common/HRInquiry.jsp

For more information refer to Tax Tip #108.