Deadline approaching for new N.J. property tax relief program

With less than two weeks until the deadline to apply for a Murphy administration property tax relief program, nearly 500,000 eligible residents have not applied, according to the state Department of the Treasury.

About 1.5 million people have submitted applications for the ANCHOR program, which will provide homeowners with up to $1,500 in tax credits and renters with $450. About 2 million New Jerseyans are eligible, according to Melinda Caliendo, spokeswoman for the Treasury.

Of the applicants, more than 1 million are homeowners, roughly 352,000 are tenants, and 96,315 paper applications have yet to be qualified, Caliendo said.

Applicants who are approved will receive their checks or see a direct deposit in the spring, Caliendo said. All applications have to be processed before the money can be distributed, she added.

The final deadline to apply is Feb. 28. Gov. Phil Murphy has previously extended the deadline to apply twice, but Caliendo said Tuesday it will not be extended again.

Asked why the state thinks so many eligible residents have not yet applied, Caliendo said, “The rate of applications being filed has increased steadily since the beginning of the state’s advertising campaign, especially among renters, who have not been eligible for property tax relief for a generation.”

Murphy unveiled the $2 billion ANCHOR program last year, saying it would help residents offset years of local property tax increases.

Under the program, renters with incomes of $150,000 or less in 2019 can apply for a rebate of $450. Homeowners with incomes between $150,000 and $250,000 in 2019 may receive $1,000, while homeowners with incomes up to $150,000 in 2019 are eligible for $1,500.

People can check the status of their applications on the state’s website. State tax officials are also holding free public events across the state to help people apply and figure out their eligibility. People can also call for information about the ANCHOR program at 1-888-238-1233.