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2024 NJ ANCHOR Program Payment Plan: What You Should Know

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If you are a New Jersey tax resident and are eligible for the ANCHOR benefit, your payment will be made.

The ANCHOR program provides property tax relief to New Jersey residents who own or rent real estate in the state as their primary residence and meet certain income limits.

The first round of payments was distributed on October 1, 2024 to those who meet the eligibility requirements listed in the ANCHOR Benefit confirmation letter.

“We will begin distributing ANCHOR benefits in early October. Payments will be made on a rolling basis,” the tax ministry said.

Most applicants receive their payment approximately 90 days after applying, unless additional information is required to process the application.

Residents can check the status of their payment online using their Social Security Number or Individual Taxpayer Identification Number and ZIP Code.

Eligible residents who have not received a confirmation letter can still apply for the NJ Anchor discount online and have until November 30, 2024.

“The ANCHOR program continues to provide direct tax relief with financial assistance that helps ease the burden of property taxes,” said Senate President Nick Scutari. “We are providing the largest property tax relief in history to homeowners and renters across the state. The success of the program reflects our continued commitment to affordability for New Jerseyans.”

By Vanessa

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