If you’re a New Jersey resident, you could be eligible to receive up to $1,750 in relief through the state’s ANCHOR program this year. With the rising cost of living affecting all of us, this stimulus check aims to provide some much-needed support for homeowners and renters alike. Here’s what you need to know to make sure you don’t miss out.
The Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) program is designed to help offset property tax costs for residents who meet specific income requirements and who either own or rent property in New Jersey. This financial assistance is available to those who have a gross income below $250,000 as reported on their 2021 tax returns, and who owned or occupied their primary residence as of January 9, 2021.
How Much Can You Get?
- Homeowners: If you meet the criteria, you can receive between $1,000 and $1,750.
- Renters/Tenants: If you rent, you can qualify for a rebate ranging from $450 to $700.
These payments can make a significant difference as we continue to navigate the financial challenges brought on by recent global events like the Covid-19 pandemic and the war in Ukraine, which have contributed to rising inflation.
When Is the Last Day to Apply?
The final deadline to submit your application for the ANCHOR program is Saturday, November 30, 2024. After this date, no more applications will be accepted, so make sure you apply as soon as possible if you haven’t already.
What If You Missed the September 15 Deadline?
While the deadline to update your existing information passed on September 15, don’t worry. New Jersey will use the banking and address details they currently have on file to process your payment. The distribution of payments will begin in October 2024 and will continue on a rolling basis. It typically takes about 90 days from the submission date to receive your payment.
Protect Yourself from Scams
Be cautious of any text messages or emails claiming to be from the ANCHOR program and asking for personal information. New Jersey will never request your details via SMS. If you’re ever in doubt, it’s best to contact the ANCHOR program directly to verify any requests before sharing your information.
This is a valuable opportunity to get some financial relief, so don’t miss your chance! If you’re eligible, make sure to submit your application before the November 30 deadline and stay informed to protect yourself from scams. If you have any questions or need more information, reach out to the ANCHOR program directly for assistance. This is your opportunity to secure the support you need to help ease the burden of rising costs.