13 Oct I moved to N.J. last year. Can I get the ANCHOR benefit?

Q. I moved to N.J. last year. Can I get the ANCHOR benefit?
— Proud homeowner

A. We’re afraid not, at least not for this year.

The ANCHOR property tax benefit being prepared now is for the 2020 tax year, so you won’t meet the residency requirements yet.

For the 2020 benefit, 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 residency requirement, for the first two years of the benefit, was Oct. 1 of the tax year.

So if you meet the requirements, and if you moved to New Jersey by Oct. 1 of 2023, you will have to wait for that benefit year to come — assuming ANCHOR is funded by the state budget in future years, you’ll see the 2021 and 2022 benefit years pass before you’re eligible.

The ANCHOR hotline is (888) 238-1233.

Email your questions to .

This story was originally published on Oct. 13, 2023.

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