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Department of the Treasury

For Immediate Release:
January 29, 2024
Media Contact:
Danielle Currie

ANCHOR Program Distributes Historic Property Tax Relief to More Than 1.8 Million New Jerseyans

TRENTON - Over $2.1 billion was distributed to more than 1.8 million New Jersey homeowners and renters during the most recent ANCHOR program, making it the single largest property tax relief program in State history.

The most recent filing season for the Affordable Communities for Homeowners and Renters program - or ANCHOR - covered the 2020 tax year. To date, more than 1.2 million homeowners received benefits totaling over $1.8 billion, and around 579,000 renters received benefits totaling over $278 million. Benefits ranged from $450 to $1,750 depending on income and age, among other factors; qualifying homeowners and renters over age 65 were eligible for an additional $250.

Compared to the first ANCHOR season covering the 2019 tax year, over 200,000 more taxpayers received a benefit for the 2020 season, breaking down to more than 60,000 homeowners and more than 141,000 renters.

The amount of benefits paid out through 2020 ANCHOR season surpassed the 2008 Homestead Rebate program, which previously held the record for most dollars distributed through a property tax relief program ($2.08 billion). 

“Together with our partners in the Legislature, and through the non-stop efforts of Treasury’s Division of Taxation, we have delivered roughly $2 billion to hardworking homeowners and renters for the second consecutive year,” said Governor Murphy. “As the most ambitious property tax relief program in New Jersey history, ANCHOR is helping to make New Jersey more affordable for nearly two million households who need and deserve this relief.”

“I’d like to thank the hardworking staff at the Division of Taxation for devoting countless hours to processing applications and distributing benefits to nearly two million New Jerseyans,” said State Treasurer Elizabeth Maher Muoio. “A program of this magnitude is an enormous undertaking, but the Division of Taxation worked diligently to ensure eligible homeowners and renters received this crucial property tax relief at a time when many residents need it most.”

“The ANCHOR program continues to provide direct tax relief with financial assistance that helps ease the burden of property taxes,” said Senate President Nick Scutari. “We are providing the highest level of property tax relief in history for homeowners and renters throughout the state. The success of the program reflects our ongoing commitment to affordability for the residents of New Jersey.”

“We made affordability a top priority when we passed ANCHOR and it has delivered historic property tax relief,” said Assembly Speaker Craig Coughlin. “Over $2 billion into the pockets of New Jersey homeowners and renters will help families meet their needs and plan for the future.”

ANCHOR is administered by the Department of the Treasury’s Division of Taxation. The Division worked diligently to make the program more convenient and accessible this season, including implementing an automatic filing initiative to distribute payments to most eligible residents who previously received benefits, as well as mailing applications to two million residences with the goal of reaching additional homeowners and renters than the previous filing season.

The Division of Taxation expedited the benefit distribution process this season, reviewing and approving applications and distributing benefits to a majority of eligible residents within 90 days.

Additionally, new this season, the Administration employed a new strategy to deliver benefits to residents across the state. The ANCHOR Outreach Team, comprised of 300 canvassing professionals daily, knocked on doors in neighborhoods across New Jersey for three months to deliver in-person ANCHOR services.  In addition to door-to-door outreach, canvassers also attended 119 community events to maximize outreach to New Jersey residents. Team members confirmed eligibility for ANCHOR and provided information in the filer’s native language, assisted in filing applications, checked benefit statuses, and answered commonly asked questions.

The Division of Taxation encourages anyone who hasn’t received their benefit or experienced issues with their application to call the ANCHOR hotline (609) 826-4282 or 1-888-238-1233, or get in-person assistance at a  Regional Information Center.


Last Updated: Tuesday, 04/09/24