There is a state-sponsored initiative in New Jersey that will give homeowners up to $1,500, but they only have three weeks to apply.
New Jersey homeowners and renters can apply for funding through the Affordable New Jersey Communities for Homeowners and Renter’s initiative until February 28.
Funding for Homeowner Stimulus Programs
Direct deposits or paper checks will be issued to recipients beginning in late spring, per the New Jersey Division of Taxation.
Homeowners with an annual income of less than $150,000 will receive $1,500 from the program, while those with an income of more than $150,000 will receive $1,000.
While homeowners will receive a larger payout, renters with annual incomes of $150,000 or less will still be eligible for a $450 payout.
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Over a million homeowners will see their property tax burdens significantly reduced thanks to the direct aid provided by ANCHOR, which could roll back increases dating back as far as a decade.
In addition, Murphy emphasized that the ANCHOR tenant relief would help to mitigate the impact of rent increases for the nearly one million people who currently rent.
What Should I Do?
New Jersey Governor Phil Murphy stated, “This is the money going right back into the pockets of roughly 2 million New Jersey middle-class and working homeowners, seniors, and tenants” (D).
Homeowners can apply for this program online or by calling 877-658-2972 to receive an ANCHOR ID and PIN.
The Rental Application must be submitted online to the Division of Taxation. The program does not offer telephone applications, nor do tenants receive identification or a personal identification number (PIN) to participate.
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An application for this program can be downloaded from the website, printed, and mailed in with the necessary supporting materials.
Payments to eligible state residents who enroll in the program will be disbursed by the end of May at the latest. The order in which payment requests were received will not affect the order in which payments are made.