If you do not receive an Anchor Benefit Confirmation Letter, you have the opportunity to file an Application for Property Tax Relief on your own. To qualify, either an individual or a grantor revocable trust must have owned the property. During 2024, the applicant must have owned and resided in the Montana property for at least seven months. Check here to see if you’re required to file a paper application. With about 2 million people impacted, ANCHOR rebate recipients will receive an average of $971 for this year. Homeowners with a household income of less than $150,000 can get a $1,500 rebate.
Applications
- The fiscal year 2023 property tax rebate is for homeowners whose New York City property is their primary residence and whose combined income is $250,000 or less.
- New Jersey residents can use a single application called PAS-1 to apply for benefits from the Senior Freeze, ANCHOR, and Stay NJ programs.
- Shapiro, a Democrat, spoke earlier this week and pointed to the bipartisan support that led to a significant expansion of the PTRR program last year.
- When you add together Senior Freeze and ANCHOR, if it’s less than 50% of your property tax bill, capped at $6,500, you would receive another payment under the Stay NJ name.
The plan will provide $100 million in tax relief for 195,000 small businesses through increasing a tax return adjustment to reduce small businesses’ gross business income. As 2025 begins — and the launch of the much-discussed StayNJ program is now less than a year away — the third round of payouts for the popular ANCHOR property tax relief program should have reached eligible New Jersey homeowners and renters. For residents under 65 and not collecting Social Security disability benefits, the ANCHOR filing season has begun. We began sending those residents their Anchor Benefit Confirmation Letter on August 13, 2025, with details of the upcoming filing.
Is my rebate subject to either Montana or federal income tax?
Dedicates its practice of law to matters of federal and state taxation, business transactions and litigation, as well as wills, trusts, estate planning and related areas. If you file on behalf of an estate, we will issue the approved benefit in the name of the estate. You should speak to your bank and/or seek guidance from your attorney prior to closing the estate bank account.
ANCHOR Filing Information
According to the IRS, for most individuals, the property tax rebate will not be included in Federal taxable income. Most recipients of the School Tax Relief (STAR) exemption or credit were automatically qualified and have already received their rebates.If you have not received a rebate, but believe you may qualify, you can submit an application. The average New Jersey property tax bill in New Jersey was $9,284 in 2021 — among the highest in the nation. Rough figures from the ANCHOR program average a $971 annual benefit for 2 million residents. Let’s talk about property taxes in New Jersey…because if there’s one thing that unites us here, it’s the pain of paying them. “If you think you might be eligible for a rebate, you can visit our website, at pa.gov/ptrr, to check the program guidelines and find helpful tips to apply.
Governor Kathy Hochul
- Use our new calculator to estimate how much your benefits will be.
- Since its inception in 1971, the PTRR program, which is supported by the Pennsylvania Lottery and funded by gaming, has provided over $8.6 billion in property tax and rent relief.
- Senior Freeze eligibility is based on residency, income, and age as of 2023 and 2024.
- However, the Bill amends current law to clarify that amounts deducted from gross income would be limited to property taxes paid by the taxpayer as opposed to amounts billed.
- If you do not receive an Anchor Benefit Confirmation Letter, you can file an ANCHOR application on your own.
You may be required to provide your County/Municipality Code, Block/Lot/Qualifier, and property tax amount(s) from your property tax bill(s). You may also have to verify your NJ Gross Income amount from your NJ-1040. Have your documents available for your convenience when filing the application.
After your rebate is processed, please allow at least 4 weeks for delivery before contacting us regarding your check. Rebate checks will be mailed to the taxpayer; direct deposit is not available. Most recipients of the STAR exemption or credit will automatically qualify and will not need to take any action in order to receive the property tax rebate.
Most recipients of the School Tax Relief (STAR) exemption or credit will automatically qualify and will not need to take any action in order to receive the rebate. Some STAR recipients may be asked to provide additional information. If your property is owned by an entity, do not complete or file a rebate claim. Properties owned by an entity—except for grantor revocable trusts—are ineligible for the rebate. This means that a property owned by a limited liability company, partnership, corporation, or irrevocable trust do not qualify for the rebate. Applicants under the age of 65 or individuals who are not receiving Social Security Disability benefits are unable to use the PAS-1 application and do not qualify for Stay NJ.
I moved or lived in two separate houses in 2024. Can I qualify for the Property Tax Rebate for Tax Year 2024?
The department will not consider any application or reasonable cause request filed after December 1, 2025. However, homeowners can continue to apply for rebates until March 15, 2023, if an extenuating circumstance prevented them from applying by November 15. Taxpayers can mail it in or you have the option to upload a completed copy of your paper application using the state’s electronic filing system. They will be able to attach supporting documents with the application. The state will pay rebates via check or direct deposit « no later than May 2023 to allow time for application processing and validation. » The treasury also has limits on the number of checks it can issue each week.
ANCHOR replaces the Homestead Rebate as New Jersey’s main program for property tax relief. While Murphy has touted the new program as a key component to making New Jersey more affordable, Republican lawmakers have called it a gimmick that doesn’t go far enough amid high taxes and inflation. The Stay NJ program offers eligible homeowners a reimbursement of 50% of their property tax bills, up to a maximum of $13,000. When applying, have your 2024 property tax details (i.e. County/Municipality Code, Block/Lot/Qualifier, tax amounts) available as well as the gross income reported on your 2024 NJ-1040. There is one type of property that is exempt from the property tax requirement.
The new tax break cuts property tax bills by 50%, to a maximum of $6,500, for senior citizen homeowners and those who receive Social Security Disability payments and meet other eligibility requirements. We will not automatically file the Property Tax Relief Application, Form PAS-1, for taxpayers 65 and over, or those receiving Social Security disability benefits. You must file the PAS-1 application on your own – online or by paper. Even if you only qualify for the ANCHOR benefit, you must file the combined application.
Renters also do new property tax rebate program not qualify for the rebate because they did not own the subject property in 2024. But people who lived in tax-exempt, subsidized or campus housing do not qualify. Those who made Payments-in-Lieu-of-Tax, or PILOT, payments to their municipality are eligible for the Stay NJ benefit. Over 40% of New Jersey residents 50 or older have thought about leaving the state, with 83% citing the lower state taxes and cost of living elsewhere as key factors, per a recent AARP report. The program was created in an effort to encourage these older residents to remain in the state.