New Jersey is preparing to send out another round of property tax relief payments under the Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) program. The initiative will provide financial assistance to both homeowners and renters across the state.
Last year, more than 2 million rebates were distributed, totaling about $2.3 billion. State officials anticipate a similar payout this year.
According to the New Jersey Department of the Treasury, nearly 1 million auto-file letters have already been mailed to residents who received an ANCHOR payment last year. These letters inform recipients that their new applications have been automatically filed for them.
Marita R. Sciarrotta, director of the New Jersey Division of Taxation, advised residents to check their letters for accuracy.
The eligibility and type of benefit are based on where individuals lived as of October 1, 2024.
James Hughes, dean emeritus of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University, commented on the impact of the program: “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 also noted that many families face additional pressure from high rents in addition to property taxes.
