New Jersey residents have until February 28 to claim their one-time cash payments of up to $1,500 under the New Jersey ANCHOR (Affordable NJ Communities for Homeowners & Renters) Program.
This program will replace the Homestead Benefit plan, which only provided aid to homeowners and excluded renters.
According to a published article, New Jersey Governor Phil Murphy and the state legislature introduced the ANCHOR program last year, stating that even more homeowners and renters will be eligible for the funds. Over 1.2 million homeowners will receive a payment of up to $1,500, while over 900,000 renters will receive $450.
SUBMITTING YOUR APPLICATION
Residents can submit their applications online, by phone, or by mail to avail of the New Jersey ANCHOR Program. The application process is slightly different depending on whether you are a homeowner or a renter.
Homeowners must have an ANCHOR ID and PIN to apply online or by phone, while renters and tenants do not need one. However, homeowners who owned a unit in a multi-unit property or need separate ANCHOR benefit payments must file a paper application.
To apply for New Jersey ANCHOR Program, homeowners are required to have an ANCHOR ID and PIN. Homeowners who did not receive a mailer or email with their ID and PIN but filed a Homestead Benefit application last year can access the online ID and PIN inquiry system. Homeowners who shared ownership of their main home with someone who was not their spouse/civil union partner, or who need separate ANCHOR benefit payments, among other reasons, must file a paper application. Homeowners can apply online or by phone, and the application can be found on the New Jersey ANCHOR Program website or by calling 1-877-658-2972.
ARE YOU ELIGIBLE?
Payment amounts and eligibility will depend on your income and whether you rent or own your home.
Homeowners with an income of $150,000 or less will receive $1,500, while renters with an income of $150,000 or less will receive $450. Homeowners with an income of more than $150,000 and up to $250,000 will receive $1,000.
When Will You Receive Your Money?
Payments will be issued as checks or direct deposits starting in late Spring 2023, and residents will receive their aid no later than May 2023.
It’s essential to check your eligibility for the New Jersey ANCHOR Program and submit your application before the deadline to receive your cash claim. This is an excellent opportunity for renters and homeowners to receive much-needed financial aid during these trying times.
For more information on how to apply, visit the New Jersey ANCHOR website or call 1-877-658-2972.
