This article, authored by Claudia Mott, was originally posted on NJMoneyhelp.com
Q. We just received paperwork to file for the ANCHOR property tax benefit. Can I go back and apply for the Homestead Rebates? I did not know this was offered. We have owned our home since 2016.
A. The ANCHOR program replaces the Homestead Rebate starting with the 2019 benefit year, for which applications are now being accepted.
New Jersey said the new program would help some 1.8 million residents.
Homeowners with incomes up to $150,000 would qualify for a $1,500 rebate, while renters would receive $450, said Claudia Mott, a certified financial planner with Epona Financial Solutions in Basking Ridge. For homeowners with incomes between $150,000 and $250,000 the rebate drops to $1,000.
To qualify, residents must have been in their home or apartment as of Oct. 1, 2019 and homeowners must be up to date on property tax payments, she said. Renters must be able to show that their name was on the lease or rental agreement and their unit must have a separate kitchen and bath.
Applications for the Anchor program can be made online, by phone at (877) 658-2972 or with a paper application. The filing deadline is Dec. 30, 2022.
“The Homestead Rebate program does not offer the opportunity to file retroactively, Mott said.
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This story was originally published on Oct. 19, 2022.