New Jersey’s ANCHOR or Affordable New Jersey Communities for Homeowners and Renters program is giving homeowners and renters a tax credit worth up to $1500.
The program aims to help homeowners and renters cope with their livelihood after the pandemic.
The application deadline was extended from December 30, 2022, to January 31, 2023. Unlike in past years, only homeowners can claim a tax credit but for this year they included renters.
Who are qualified?
All applicants must be:
- Homeowners who have an income of $150,000 or less will receive $1500
- Homeowners who have an income between $150,000 and $250,000 will receive $1,000
- Renters who have an income of $150,000 or less will receive $450
Eligibility is determined by 2019 income. Your 2020 or 2021 income is not included.
HOW TO APPLY?
There are different ways offered for applicants. Homeowners can apply online but can also apply by mail or over the phone. Their anchor ID and pin will be presented when applying. Meanwhile, renters are encouraged to apply through mail or online as ID and pin are not necessary.
Once qualified, the money will be sent to you through direct deposit or a check in the mail. All payments are intended to be processed no later than May 2023 and they will not follow a first come first served basis.
