The ANCHOR program is a property tax relief program for New Jersey residents who own or rent property in New Jersey as their principal residence and meet certain income limits. The program provides an additional $250 for New Jersey residents who were 65 or older as of December 31, 2020. Here are some details about the ANCHOR program:
Positive:
- Provides property tax relief to eligible New Jersey residents.
- Eligible homeowners can receive an ANCHOR homeowner benefit.
- Eligible renters can receive an ANCHOR tenant benefit.
- The program provides an additional $250 for eligible New Jersey residents who were 65 or older as of December 31, 2020.
- ANCHOR benefit payments are not reportable as New Jersey income.
Negative:
- None found.
Ingredients or materials:
- Not applicable.
Overall, the ANCHOR program is a positive initiative that provides property tax relief to eligible New Jersey residents who meet certain income limits.
