The ANCHOR property tax rebate initiative, introduced in March 2022, has garnered substantial popularity.
According to reports from the New Jersey Division of Taxation, 1.68 million homeowners and renters have successfully availed themselves of the program’s benefits.
Notably, the majority of eligible individuals received their benefits within a 90-day timeframe following application, a feat deemed “remarkable” by Treasury officials, considering the scale of the ANCHOR program.
Typically, if you obtained the initial rebate in the Spring, you should have automatically received the subsequent round of benefits in the Fall.
What are the Eligibility Requirements for the ANCHOR Rebate?
Homeowners with incomes not exceeding $150,000 qualify for a $1,500 rebate, while those with incomes between $150,000 and $250,000 are eligible for a $1,000 rebate.
Renters with incomes up to $150,000 are entitled to a $450 benefit. Additionally, residents aged 65 or older can avail themselves of an extra $250 benefit.
The majority of benefits are disbursed through direct deposit. While applicants have the option to choose a paper check during the application process, it is important to note that the processing time for such benefits may be extended.
It is imperative to emphasize that the distribution of benefits will persist beyond the application deadline.
According to statements from treasury officials, payments will be allocated until all eligible applicants have received their entitled benefits.
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Unreceived ANCHOR Rebate: What Steps to Take Next?
Should you believe that you qualify for the rebate but have not received the funds, there are several channels through which you can reach out to the Division of Taxation for assistance.
The ANCHOR hotline remains operational to provide support to taxpayers.
Please feel free to contact us at 609-826-4282 or 1-888-238-1233.
Alternatively, you have the option to arrange an in-person appointment at a Division of Taxation field office.
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