Stimulus update: Homeowners still have time to apply for $1,500 payment
Ryan King
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The clock is ticking for New Jersey homeowners and renters to apply for payments of up to $1,500 by May of this year.
Prospective applications have until Feb. 28 to apply for the 2019 Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) program, which will roll out payments of $1,500 for homeowners who earned $150,000 or less in 2019 and $1,000 for those who had incomes between $150,000 and $250,000, according to the New Jersey Division of Taxation.
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The program extends to “New Jersey residents who owned or rented their principal residence” on Oct. 19, 2019, and fell within the proper income thresholds that year. Renters will reap less than homeowners but can apply for a payment of $450 if they earn $150,000 or less annually.
Payments are slated to be rolled out by May. There is no age limit for applicants, and some residents who have since moved may be eligible for the relief. For cases where a home is co-owned with a non-spouse, the owners must file separate claims.
ANCHOR is intended to provide property tax relief to residents of the Garden State, which has one of the highest real-estate property taxes in the country. To apply, homeowners can visit the website or call 1-877-658-2972. Applicants will need an ANCHOR ID and PIN.
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New Jersey’s Division of Taxation provides a detailed breakdown of how benefits are calculated.
Further information on this program can be found on the Division of Taxation’s website.