1750 Stimulus Payment: Starting in early October, New Jersey will begin its Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) program. This program gives residents a property tax rebate of up to $1,750.
To qualify, residents must meet certain requirements. These include income limits (based on their 2021 taxes), residency in New Jersey, and age guidelines.
Payments will start in early October, and the deadline to apply is November 30, 2024. If you are accepted, you will get an ANCHOR Benefit Confirmation Letter letting you know.
1750 Stimulus Payment: How much can you get?
How much you get paid depends on your situation. For example, homeowners can claim up to $1,750, but it might be less, between $1,000 and $1,750, based on your income and property taxes. Tenants can claim between $450 and $700.
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To qualify, you must have owned or lived in the primary residence listed on your application by September 1, 2021, and your gross income in 2021 cannot have been more than $250,000.
Remember, ANCHOR will never text you asking for personal information. If you receive such a message, contact the program directly to avoid scams.
What is a tax rebate?
Tax rebates are refunds given to taxpayers who have paid more taxes than they owe to the government. You might get this if you guess your taxes wrong or if you are eligible for credits, exemptions, or deductions.
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Governments give tax rebates to return the extra money. Rebates can come from things like charitable donations, education credits, energy-saving improvements, or, like in the ANCHOR program, real estate-related payments.
