BLOOMFIELD, NJ — Bloomfield Mayor Michael Venezia is urging residents to apply for the N.J. Division of Taxation’s ANCHOR, or Affordable New Jersey Communities for Homeowners and Renters, property tax relief program. Gov. Phil Murphy and the state of New Jersey recently extended the application deadline to Feb. 28.
“We want residents to know that the application deadline has been extended and we urge all of those who qualify to apply immediately,” Venezia said. “The ANCHOR program is eligible not only for homeowners but also our residents who rent their homes, so be sure to check whether you are newly eligible for these direct payments. My hope is that this larger investment in tax relief will help put more money into the pockets of the people and families of Bloomfield in a year that has been fiscally stressful for so many of us.”
The ANCHOR program will provide up to $1,500 to homeowners with 2019 gross incomes up to $150,000, and up to $1,000 for those with gross incomes of between $150,000 and $250,000 in that year. ANCHOR is also an important program for tenants, who can receive $450 if their gross income was $150,000 or less in 2019.
The ANCHOR program expands on and replaces the Homestead Rebate Program. To be eligible for this year’s benefit, homeowners and renters must have occupied their primary residence on Oct. 1, 2019, and file or be exempt from New Jersey income taxes.
The average New Jersey property tax bill was approximately $9,300 in 2021. ANCHOR rebates could offset more than 16 percent of the average property tax bill in New Jersey for some homeowners. For a middle-class family receiving $1,500 in direct relief, the average bill will effectively become $7,800, a property tax level New Jersey has not seen since 2012.
To receive payment — expected to arrive in late spring — eligible residents need to apply by the state’s Feb. 28 deadline. Payments will be issued in the form of check or direct deposit. The money is not subject to federal or state income tax.
Eligible homeowners can apply online, by phone or via paper application, which can be downloaded online and returned by mail. Tenants can apply online or download the application from the state Division on Taxation website at nj.gov/treasury/taxation/anchor and return it via mail.
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