18 Jul When will there be applications for the next ANCHOR benefit?

Q. When will applications for next year’s Anchor Program be available? What are the criteria for this?
— Homeowner

A. The Treasury Department is still making plans for the next ANCHOR benefit, which will be for the 2020 tax year.

The applications for the 2019 benefit were first available in October.

For the next year, 2020, the state budget included full funding for the ANCHOR program, and the benefit was expanded as part of the new StayNJ program.

That law increases the benefit by $250 for both homeowners and renters.

Eligible renters with gross incomes of $150,000 or less will get $700 a year, while homeowners making less than $150,000 will get $1,750. Homeowners earnings between $150,000 and $250,000 would receive $1,250.

More to come on how to apply when it’s released by the state.

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This story was originally published on July 18, 2023.

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