Credit: (AP Photo/Rick Bowmer, File)

A key deadline is approaching for many New Jersey taxpayers who are eligible to receive Anchor property-tax relief benefits from the state.

Applications for the latest round of state-funded Anchor benefits are being automatically filed this year for about 1.5 million eligible homeowners and renters who’ve previously received them, according to the Department of the Treasury.

But for those whose personal information has changed, such as a mailing address or banking information for those receiving benefits via direct deposit, a new application must be submitted by Sept. 15.

Personal information can be checked on confirmation letters mailed last month to taxpayers in this group by Treasury’s Division of Taxation.

For those whose personal information has not changed, it’s likely no additional steps need to be taken to receive the latest round of Anchor benefits once distribution begins on a rolling basis in November, according to Treasury officials.

But for anyone needing to make a change, new applications can be filed online by going to https://www.nj.gov/treasury/taxation/anchor/index.shtml by the Sept. 15 deadline.

Meanwhile, for those who may be eligible for Anchor benefits, but have not previously applied, the deadline to apply is Nov. 30.

How Anchor program got started

Funded with more than $2 billion in the latest state budget, Anchor benefits are distributed annually to nearly 2 million taxpayers who meet income and residency requirements. These include more than 1 million homeowners, as well as tenants who pay property taxes indirectly through their monthly rent payments.

Anchor’s formal title is the “Affordable New Jersey Communities for Homeowners and Renters” program.

Treasury officials are also enhancing efforts to prevent fraud, including by asking many applicants to undergo additional levels of identity verification during this year’s application process.

Starting in 2022, Anchor replaced the state’s long-standing Homestead relief program, which had provided state-funded benefits, but only to homeowners in recent years, and at smaller amounts than those offered under Anchor.

According to program details written into the fiscal year 2025 budget, the latest round of Anchor benefits is based on residency and earnings from the 2021 tax year, continuing a gap carried over from the Homestead program.

Meanwhile, Anchor benefit amounts were held flat in the state budget as the size of the average local property-tax bill grew in New Jersey.

What Anchor will pay out

As a result, homeowners who earned up to $150,000 annually in 2021 are eligible to receive Anchor benefits totaling $1,500 this year.

Homeowners who earned more than $150,000 and up to $250,000 annually in 2021 are eligible to receive Anchor benefits totaling $1,000.

Renters who earned up to $150,000 annually in 2021 are eligible to receive Anchor benefits totaling $450.

Eligible seniors ages 65 and older qualify for an extra $250, pushing the maximum senior homeowner benefit to $1,750, and the maximum senior renter benefit to $700.

This year, Anchor benefits will once again be issued via check or direct deposit, Treasury officials said.

Upgrades to Anchor services

Among several new wrinkles this year, Treasury officials said last month they would be doubling the number of call center agents at the dedicated Anchor hotline — (609) 826-4282 or 1-888-238-1233 — to answer residents’ questions about their applications.

An automatic callback feature that would allow residents to be placed in a queue rather than waiting on hold was also in the works, officials said.

Treasury officials are also enhancing efforts to prevent fraud, including by asking many applicants to undergo additional levels of identity verification during this year’s application process.

Those affected include new applicants; anyone who searches for their Anchor ID/PIN at anchor.nj.gov; anyone who did not receive an Anchor benefit confirmation letter or application mailer, and anyone who no longer has their Anchor letter/mailer or the information provided on it, officials said.

The Division of Taxation is also launching a new online application for residents who may be required to provide supporting documentation as part of their application, a group that would have needed to file by paper last year.

These applicants will now be able to securely upload necessary documents online, while paper applications will remain available for those who prefer that format, or have special circumstances, officials said.

Additional information about the Anchor program, including frequently asked questions and alerts about scams, is available at https://www.nj.gov/treasury/taxation/anchor/.