19 Apr Will there be an ANCHOR benefit next year?

Q. Will there be an ANCHOR benefit next year?
— Homeowner

A. The ANCHOR property tax relief program started to pay out late last month.

Qualifying homeowners received up to $1,500 and renters received $450. Payments are still being sent out by the state’s Treasury Department.

As for next year, it’s looking good, but we don’t know yet for certain.

Gov. Phil Murphy asked for another $2 billion to fund ANCHOR for the next year as part of the new budget, but the legislature is still negotiating the deal.

The next fiscal year starts on July 1, so we should know more details in late June.

The Treasury Department said more than 1.7 million people applied for ANCHOR, including 1.25 million homeowners and more than 514,000 renters.

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This story was originally published on April 19, 2023.

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