Can we get ANCHOR for our second home?


Q. We are both over 65. We don’t pay property tax on our primary residence due to a military disability. However, we pay property taxes on a home in South Jersey which we use as our secondary home. Can we get ANCHOR?
— Homeowner

A. Unfortunately, no.

The ANCHOR benefit has several qualifications you have to meet before receiving a payment.

But it’s only for primary homes. Second homes, vacation homes and investment homes do not quality.

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This story was originally published in July 2024. presents certain general financial planning principles and advice, but should never be viewed as a substitute for obtaining advice from a personal professional advisor who understands your unique individual circumstances.