28 Sep I’m new to N.J. Do I qualify for ANCHOR property tax relief?

Q. I understand that the ANCHOR program is for those who were homeowners or renters in New Jersey in 2019 only. If someone wasn’t a homeowner then, but was in 2021, how can they apply? Our income is way below the eligibility criteria but we didn’t move here until 2021.
— New homeowner

A. Welcome to New Jersey.

The ANCHOR program replaced the Homestead Rebate property tax relief program.

For you, it’s a matter of timing, and you will just have to wait.

The program provides property tax relief to New Jersey residents who owned or rented their primary residence on Oct. 1, 2019 and met the income limitations, said Michael Karu, a certified public accountant with Levine, Jacobs & Co. in Livingston.

The program provides credits of up to $1,500 to taxpayers with 2019 gross incomes up to $150,000, and up to $1,000 for those with gross incomes between $150,000 and $250,000. Tenants also qualify if they have gross income of up to $150,000. Their benefit would be up to $450.

A person is considered a homeowner if, on Oct. 1, 2019, that person owned a house, condominium, was a shareholder in a co-op or resident in a continuing care facility that contractually required the payment of property taxes on your pro-rata share for your unit, Karu said.

“Non-residents of New Jersey are not eligible,” he said. “Since the reader became a New Jersey resident and homeowner in 2021, they will have to wait until the 2021 ANCHOR application becomes available.”

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This story was originally published on Sept. 28, 2022.

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