23 Apr I didn’t file taxes. Do I still get the $50 property tax credit?

Q. I did not file a New Jersey income tax form. Will I get my rebate $50 with my Homestead Rebate?
— Senior

A. There are a couple of things to consider here.

First, the Homestead Rebate was replaced with the ANCHOR benefit starting with the 2019 benefit year.

Eligible homeowners and renters should have received payments from ANCHOR for both the 2019 and the 2020 benefit years.

The 2021 benefit year would be the next one, but we have to wait for the state budget to be passed this summer before it’s official, though it’s expected lawmakers will fund the benefit at the 2020 levels.

Now let’s talk about the $50 payment you mentioned. This is a property tax credit due to eligible seniors who don’t claim a property tax deduction on their tax returns.

“The credit is claimed on the NJ-1040, but if the beneficiary doesn’t file tax forms, we’ve historically included that payment in their property tax relief payment,” the Treasury Department said.

So the first thing you should do is check to see if you were eligible for the 2020 ANCHOR payment. Then check your deposits to see if it included the $50.

If it didn’t, you should reach out to the Division of Taxation to see what happened.

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This story was originally published in April 2024.

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.