The State Department of Treasury has announced that more than 1.3 million taxpayers who received property tax relief benefits through the Affordable Communities for Homeowners and Renters (ANCHOR) program last year will soon receive a letter confirming their eligibility for this year’s program and notification that they will not need to re-file an application to receive a check or direct deposit in most circumstances.
“The Division of Taxation has worked diligently to build off the success of last year’s ANCHOR program and ensure every eligible New Jersey resident receives this crucial property tax relief,” said State Treasurer Elizabeth Maher Muoio. “We’re pleased to be able to distribute benefits automatically to many ANCHOR eligible households this year, making the process far more simple and convenient for the majority of qualifying homeowners and renters.”
The Department of the Treasury’s Division of Taxation began mailing benefit confirmation letters today. The letters include detailed information on how recipients will receive their benefit this year (via check or direct deposit, matching their choice from last year), as well as confirmation of their mailing address and bank information. If this information has not changed in the last year, recipients will NOT need to file an application to receive their benefit this year. Benefits will automatically be distributed by Nov. 1.
If recipients need to change their mailing address, bank account number, or other qualifying information outlined in the letter, applicants must file an application by Sept. 30.
Additionally, the Division of Taxation will soon begin mailing applications to two million residences with the goal of reaching additional homeowners and renters who may also be eligible to apply for the program. Application mailers will be sent between August 22nd and 28th. These applicants will have until Dec. 29 to file an application. Benefits will be distributed on a rolling basis within 90 days of filing.
This is the second year the state will distribute ANCHOR benefits. Last year, more than 1.7 million renters and homeowners applied for and received a payment ranging from $450 to $1,500 under the program covering the 2019 tax year.
Additional information is available at anchor.nj.gov.
To access more business news, visit NJB News Now.Related Articles: