As a renter or homeowner, getting benefits from the government can help you save money. In New Jersey, the ANCHOR Program allows you to save money on property taxes. This article will give you all the necessary guide on the Anchor Program NJ and how to Apply. But before we dive into the details.
What is the ANCHOR Program?
ANCHOR is a tax relief program that provides financial help to New Jersey citizens who own or rent property as their primary home and meet individual income limits. The Program makes living in New Jersey more affordable for people who need it most.
According to a report from the NJ Division portal, the deadline for ANCHOR benefits ends on Friday, December 29, 2023, and they will start paying 90 days after applying unless additional information is needed to process your claim.
Who is Eligible for the ANCHOR Program NJ?
- You must be a New Jersey resident.
- You must own and occupy a home in New Jersey that was your principal residence (main house) on October 1, 2020.
- You must have paid 2020 property taxes on that home.
- Your 2020 New Jersey gross income must have been $250,000 or less.
You may be eligible for an ANCHOR homeowner benefit if you meet these requirements.
The Program has three categories to apply which is:
Homeowners: As a landlord, you may file online or by phone with an identification number (ID) and PIN. However, if you bought your home in 2020, altered your deed, or had specific life changes, such as a divorce or death of a spouse, you must apply by mail.
Renters: As a tenant, you will be filing on the NJ Division portal, which I will guide you to do in this article.
Those with green or purple filing packets from the NJ Division of Taxation: With this option, you must follow the instructions in the box to apply for your benefit.
Now that you know the ANCHOR Program, let's talk about how to apply for it. Depending on your situation, there are several ways to apply for the Program, but in this guide, we will be using it as a Renter, so let's get started.
To File NJ Anchor Program, You Need:
- Name
- Address
- City
- ZipCode
- A Computer or Mobile Phone
- Good VPN
- USA Phone Number (You can use Google Voice)
- Create an Email with the first and last name of the fullz
- SSN/Tax ID
- Drivers License
- Direct Deposit bank details matching fullz name
- Ensure all the above information is from New Jersey before using it.
Take Note: The income limit for homeowners is $250,000. The income limit for renters is $150,000
How To Apply For the New Jersey Anchor Program
1. Connect your IP address to New Jersey and go to the Anchor program portal: https://shorturl.at/cgkEI
2. Choose Renter, and click continue
3. Solve the ReCaptcha if asked
4. Enter the SSN or Tax ID here and continue.
5. Question "A" asks for a Rental status; choose Yes
6. Section "B," fill in the name, date of birth, and Drivers License number.
7. The following sections require two addresses, one for where check payment will be mailed (You can skip if you are using direct deposit)
8. Choose Single in section C, and leave the Question E default unless you are disabled
9. Enter 144,000 in the income column. ( You can enter any figures, but it should not be more than $150,000.) leave Question G as it is, or choose No.
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10. Fill in the email you set up with the fullz name and the Number in this section and continue
11. If you choose Direct Deposit, enter the Routing and Account number.
12. Review all the information you submitted and click on continue.
13. You will get a Pin with a success message; keep it when it's time for payment; they will ask for it.
Conclusion
The ANCHOR Program NJ is an excellent opportunity for eligible homeowners and renters in New Jersey to receive financial assistance with their property taxes. If you meet the eligibility requirements outlined above, you must apply for the Program immediately. The application process is straightforward and can be completed online with the above guide. If you have any questions about the Program or the application process, please visit the official website of the New Jersey Division of Taxation.