When can I get the 2023 ANCHOR benefit?

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Q. When can I get the 2023 ANCHOR benefit?
— Renter

A. The tax year for which the ANCHOR benefit is paid confuses some taxpayers, and rightly so.

It will be a few years before you see the 2023 ANCHOR benefit. It’s the 2020 benefit that will be paid out for most eligible taxpayers by Nov. 1.

The ANCHOR program’s delay in paying follows its predecessor program, the Homestead Rebate, which also ran a few years behind.

The Homestead Rebate was started in the mid-1070s when the born when the state instituted its first income tax.

Gov. Chris Christie delayed the benefit twice for budgetary reasons, and the delays began.

So the ANCHOR benefit, which has replaced the Homestead Rebate, stuck to that later schedule. The benefits paid out earlier this year were for the 2019 tax year, and the ones paid out next will be for tax year 2020.

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This story was originally published on Aug. 23, 2023.

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