10 Sep How does Stay NJ work with ANCHOR and Senior Freeze?

Q. In a recent article you wrote, “Add that together with the Senior Freeze. If the amount is less than 50% of your property tax bill, capped at $6,500, you would receive another payment under the Stay NJ name.” I also saw that ANCHOR and Senior Freeze are calculated first, and then you would get Stay NJ. Is this how it works?
— Confused homeowner

A. Stay NJ is a three-legged stool.

The maximum you can get from all three benefits is 50% of your tax bill, capped at $6,500.

The Treasury Department will first add together your benefit from ANCHOR and the Senior Freeze. If it’s less than 50% of your property tax bill — to a maximum of $6,500 — assuming you meet all the eligibility requirements, you’d get another payment under Stay NJ.

Take this example: Say your property tax bill is $10,000. Your maximum property tax relief will be $5,000. You would first get ANCHOR and Senior Freeze. If those two amounts are less than $5,000, you’d get a Stay NJ payment to bring you up to that amount.

But let’s say your property tax bill is $20,000. Ten thousand dollars would be 50%, but that’s above the $6,500 maximum benefit. So $6,500 would be the most you could receive — first Senior Freeze, then ANCHOR, then the Stay NJ benefit would be calculated on top of that. But only up to $6,500.

The Treasury Department said in late 2025, after the benefits are all paid, it will send recipients a letter that spells out exactly how their personal benefits were calculated.

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This story was originally published in September 2025.

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.