22 Aug Has the payment from ANCHOR property tax relief gone up?

Q. Is it true that ANCHOR payments will be bigger this year?
— Senior taxpayer

A. Yes, for some homeowners and renters, the amount of the next ANCHOR benefit has gone up.

When lawmakers wrangled the most recent state budget together, they fully funded the ANCHOR benefit for the 2020 tax year. The benefit runs a few years behind, so 2020 is the next payment people will receive.

The benefit will pay an extra $250 for eligible seniors.

Homeowners 65 years or older earning $150,000 or less will receive $1,750. Those earning between $150,001 and $250,000 will receive $1,250.

Homeowners under the age of 65 earning $150,000 and under will receive $1,500 and those earning between $150,001 and $250,000 will receive $1,000.

Renters over the age of 65 who earn less than $150,000 will receive $700. Renters who are 64 and under will receive $450.

The state started sending notification letters to eligible residents last week informing them that the benefit will be automatic this year unless your personal information has changed.

The ANCHOR hotline is (888) 238-1233.

Email your questions to .

This story was originally published on Aug. 22, 2023.

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