30 Aug How much will ANCHOR be in 2023?

Q. Is there a certain amount of ANCHOR benefit to be paid on Nov. 1, 2023?
— Taxpayer

A. We love that you’re thinking ahead.

The answer is that we don’t know yet.

The first benefit year was for 2019, and the 2020 benefit will be paid to most eligible homeowners and renters by Nov. 1 of this year.

But the ANCHOR benefit, while fully funded for the 2020 tax year, has to be funded as part of the state budget each year.

And the future fiscal health of the state just isn’t known, so you’re just going to have to wait.

You can bet that lawmakers won’t want to cut the benefit, which increased for the 2020 tax year.

Homeowners who are 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 ANCHOR hotline is (888) 238-1233.

Email your questions to .

This story was originally published on Aug. 30, 2023.

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