ANCHOR benefit 2024: Important deadline approaching this weekend

In August, the New Jersey Department of Treasury sent out confirmation letters to homeowners and tenants regarding the 2024 NJ Anchor Rebate benefit.

The ANCHOR (Affordable New Jersey Communities for Homeowners and Renters) program is a state initiative designed to provide property tax relief to eligible New Jersey residents who own or rent property in the state.

Confirmation letters informed residents of an auto-enrolled status, payment payout details and instructions on how to update any neccesary changes by a set deadline.

NJ ANCHOR application guide: Everything you need to know

And that deadline is approaching.

Recipients who need to update their address, banking information or make a name change from the prior filing year must do so by Sept. 15, 2024, says the New Jersey Department of Treasury. If not, payments will be issued to the information on file.

Residents will need their ANCHOR ID and PIN provided on their benefit confirmation letter to make any changes . If you do not have that information, you will have to use the ID.me system for identity verification. 

As of Sept. 10, changes were made online to over 26,000 homeowners and 18,000 renters, Danielle Currie, of the New Jersey Department of the Treasury, told Patch.com.

ANCHOR, which is in its third year, will provide property tax relief payments to homeowners and renters ranging between $500 and $1,750. This year’s ANCHOR benefit is based on residency, income and age from 2021.

Eligible residents who did not receive a confirmation letter can still apply for the NJ Anchor rebate online and have a Nov. 30, 2024, deadline.