19 Nov How can I change my ANCHOR benefit for direct deposit?

Q. I would like to have my ANCHOR check next year in direct deposit. What should I do?
— Resident of the great Garden State

A. We’re glad you’re not trying to change it for the current benefit year, which is for tax year 2021. That can be done, but it’s more likely you’d receive a check, and you’d also probably incur delays.

But for the future, when it’s time to apply for ANCHOR next year, you can complete the application and make sure the correct bank information is provided.

In terms of the application, though, expect a big change to come.

Stay NJ, a new property tax benefit, is supposed to start paying out in 2026. As such, it’s being run in conjunction with ANCHOR and the Senior Freeze, and they will share one application. Each year, the application is supposed to be available as of Feb. 1 with a deadline of Oct. 31 each year.

So you’ll have one more year — at least — of the separate applications.

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This story was originally published in November 2024.

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