23 Aug What happens with ANCHOR with only one name on mortgage?

Q. My name alone is on the mortgage for our home. However, my husband and I file taxes together and he is over age 65. Do we still qualify for New Jersey tax relief through the ANCHOR program if my name alone is on the mortgage for our home?
— Homeowner

A. You’re in luck.

The ANCHOR program’s qualifications are not based on age.

To qualify for the ANCHOR program, you must own a home in New Jersey or be a renter in the state, said Bernie Kiely, a certified financial planner and certified public accountant with Kiely Capital Management in Morristown.

“This property must be your principal residence,” Kiely said. “The operative word here is owner. Whether you have a mortgage or not doesn’t matter. So, whose name is or is not on the mortgage doesn’t affect your eligibility.”

The only requirements are residency and income. If your combined income is greater than $250,000 you are not eligible for ANCHOR.
Keep in mind that you may be eligible for more than just ANCHOR.

Per the state’s website: “The Stay NJ program offers property tax benefits to eligible homeowners aged 65 and older. To qualify, you (or your spouse) must have:

• Been age 65 or older during 2025;
• Owned and lived in a home for the full 12 months of 2025;
• Resided in a home subject to property taxes or P.I.L.O.T. (Payments-in-Lieu-of-Tax);
• Income that does not exceed $200,000.”
• Those who are 65 and older should complete the PAS-1 application, which considers your eligibility for all of the state’s property tax benefits.

You can find the application at propertytaxreliefapp.nj.gov.

The deadline is Nov. 2, 2026.

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This story was originally published in August 2026. 

NJMoneyHelp.com 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.