17 Nov Why did I get $50 extra with my ANCHOR benefit?

Q. I was eligible for the ANCHOR payment and I was expecting to get $1,750. Instead, I got $1,800. I’m happy to take the extra cash, but why did I get it?
— Curious but happy

A. It’s always a nice surprise to see extra money come your way.

But we’re glad you’re asking why. You want to make sure it’s correct and won’t be clawed back sometime in the future.

In addition to a $1,750 ANCHOR benefit, seniors who don’t claim a property tax deduction may be entitled to a $50 property tax credit,” the Treasury Department said.

“The credit is claimed on the NJ1040, but if the beneficiary doesn’t file tax forms, we’ve historically included that payment in their property tax relief payment,” it said.

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This story was originally published on Nov. 17, 2023.

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