New Jersey residents have the chance to benefit from a special tax relief program called ANCHOR (Affordable New Jersey Communities for Homeowners and Renters). This program provides eligible homeowners and renters with stimulus checks of up to $1,750 to help ease property tax burdens. However, not everyone qualifies, and there are important details you need to know.
What Is the ANCHOR Program?
The ANCHOR program aims to provide financial relief to New Jersey residents by offsetting property taxes. Here’s how it works:
- Homeowners can receive between $1,000 and $1,500 based on their annual income.
- Renters can receive up to $450 if they meet the eligibility criteria.
Who Is Eligible for the Stimulus Check?
To qualify for the ANCHOR program, you need to meet these requirements:
- Be a New Jersey resident.
- For Homeowners:
- You must have paid property taxes on your primary home for the fiscal year.
- This only applies to your primary residence, not vacation or income-generating properties.
- For Renters:
- You must have rented a home in New Jersey during the eligible period.
- Your income should not exceed $150,000 annually.
- Submit your application by the deadline:
- Applications had to be submitted before December 6, 2024.
If you didn’t apply by the deadline, unfortunately, you’re no longer eligible for this year’s payment.
When Will You Receive the Stimulus Check?
Payments for the ANCHOR program will start rolling out in December 2024 and will continue through 2025.
- Most recipients will receive their checks within 90 days of submitting their application.
- If you were automatically enrolled (e.g., received the benefit last year), there’s nothing more you need to do—you’re already on the payment list!
First-time applicants will get a letter in the mail with a color-coded identifier:
- Green for homeowners.
- Purple for renters.
How Much Will You Receive?
The amount you’ll get depends on your income and housing status:
- Homeowners:
- Earn less than $150,000 → Receive $1,500.
- Earn between $150,000 and $250,000 → Receive $1,000.
- Renters:
- Earn less than $150,000 → Receive $450.
What If Your Check Is Delayed?
Most people will receive their payments within 90 days of the application deadline. However, delays can happen if:
- Your application is missing information.
- The validation process is taking longer.
If you suspect an issue, check your mail for communication from the ANCHOR program or visit their official website for updates. Check within 90 days after the application that is if the application deadline was on December 6th. You can easily calculate this.
However, if you have not yet received the payment or time passes and you do not receive it, it may be that additional information is needed or that the validation process is slower.
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Eliot Pierce is a dedicated writer for ChiefsFocus.com, covering local crime and finance news. With a keen eye for detail and a passion for storytelling, Eliot aims to provide his readers with clear and insightful analysis, helping them navigate the complexities of their financial lives while staying informed about important local events. His commitment to delivering accurate and engaging content makes him a valuable resource for the community.