NJ Anchor Rebate 2024 Payment Release Date, Amount & Eligibility 

The ANCHOR benefit payment is expected to be released in several large batches starting on January 2, 2024. Most applicants are expected to get their money about 90 days after applying.

NJ Anchor Rebate 2024

The NJ ANCHOR Rebate Program is currently distributing payments to eligible residents in several large batches starting from January 2, 2024. 

The program offers tax relief to residents who own or rent property in New Jersey as their principal residence and meet specific income requirements. 

Eligible homeowners can receive up to $1,800, while eligible renters can receive up to $1,500. The deadline for the 2024 program was December 29, 2023.

The ANCHOR program is projected to pay out about $2 billion in benefits, and the proposed FY2024 budget continues the historic ANCHOR property tax relief program, proposing another $2 billion in direct relief.

NJ Anchor Rebate 2024 Eligibility 

To qualify for the NJ ANCHOR rebate program, you must meet certain criteria based on your 2020 residency, income, and age:

  • Residency: You must have been a New Jersey resident throughout 2020.
  • Income: Your 2020 income must be $250,000 or less.
  • Property: You must own and occupy your primary residence (main home) in New Jersey as of October 1, 2020.
  • Paid property taxes: You must have paid property taxes on your home in 2020.
  • Rental: You must have rented and occupied a residence in New Jersey that was your principal residence (main home) on October 1, 2020.
  • Paid rent: You must have paid rent on the qualifying property.
  • Taxed rental: The rental property must be subject to local property taxes.

NJ ANCHOR Rebate Payment Schedule 2024:

The payment dates are as follows:

NJ Anchor Rebate 2024 Eligibility

  • December 29, 2023: Deadline to apply for the 2020 tax year rebate (payable in 2024).
  • January 2, 2024: The first batch of ANCHOR benefits payments started being issued.
  • January 12, 2024: If you haven’t received your payment by this date, contact the Division of Taxation.

Application period:

The deadline for applications for the 2020 tax year relief (payable in 2024) has closed as of December 29, 2023. However, if you haven’t filed yet, you can still apply for subsequent program years as eligibility details become available.

NJ Anchor Rebate 2024 Amount 

The amount of the NJ ANCHOR rebate payment depends on your 2020 income, age, and whether you own or rent your primary residence in New Jersey:

Homeowners:

  • 65 and older:
    • Up to $150,000 income: $1,750maximum rebate
    • $150,000 to $250,000 income:$1,250 rebate
  • Under 65:
    • Up to $150,000 income: $1,500maximum rebate
    • $150,000 to $250,000 income:$1,000 rebate

Renters:

  • 65 and older: Up to $150,000 income:$700 maximum rebate
  • Under 65: Up to $150,000 income:$450 maximum rebate

NJ Anchor Rebate 2024 Status Check

There are two main ways to track the status of your NJ Anchor Rebate:

Online:

  • Head over to the NJ Division of Taxation’s ANCHOR Benefit Lookup Tool website at https://www.nj.gov/
  • Enter your Social Security number or Individual Taxpayer Identification Number (ITIN) and your ZIP code.
  • Click on “Submit.”
  • The website will display your benefit amount, application status, and payment date (if applicable).

Over the phone:

  • Call the ANCHOR Helpline at 1-888-237-7457.
  • Be prepared to provide your Social Security number, ITIN, and ZIP code.
  • A representative can tell you your benefit amount, application status, and payment date (if applicable).

What should you do if your NJ anchor rebate payment is delayed?

If your NJ ANCHOR rebate payment is delayed, there are a few steps you can take:

Check the payment schedule and your benefit status:

  • Review the official payment schedule information: While dates for subsequent batches haven’t been announced yet, the first batch of payments started issuing in January 2024.
  • Use the ANCHOR Benefit Lookup Tool: https://www.nj.gov/treasury/taxation/anchor/home.shtml:to confirm your application status and estimated payment date.

Verify your contact information:

  • Ensure your current address and phone number are up-to-date with the Division of Taxation to receive notifications about your payment. You can update your information online or by contacting the ANCHOR Helpline.

Contact the ANCHOR Helpline:

  • Call the ANCHOR Helpline at 1-888-237-7457 and explain your situation. They can provide further information about your specific case and potentially address any outstanding issues.

Gather relevant documents:

  • Have your Social Security number or ITIN, ZIP code, and any documentation related to your ANCHOR application at hand when contacting the helpline.

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