Does an additional $2,000 before Christmas sound good to you? As for the roughly one million people who call New Jersey home, here is what they can expect.
Why? The Middle-Class Tax Cut, a $500 refund, was approved by Governor Phil Murphy.
That’s $500 in their hands right there for many people in New Jersey. Many homeowners and renters are receiving up to $1,500 under the ANCHOR program.
If You Think You Might Qualify for the Middle-class Tax Cut, How Do You Find Out if You Actually Will?
To qualify for the state’s $500 reward, you must follow a few easy guidelines. You must first prove that you will be a New Jersey resident during all of 2020.
In order to claim a child as a dependent on your state tax return, you must have at least one child.
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Your tax refund must be at least $1 or more. And finally, your annual New Jersey gross income must be less than $150,000.
(half that income amount for those filing separately).
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A $500 reward is yours for meeting these conditions. If you need clarification or have any questions, please get in touch.
The Anchor Program Provides ,500 to Eligible Participants.
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The ANCHOR program, which awards recipients $1,500, is targeted at those who need help paying their property taxes.
With a $1,500 rebate, homeowners with annual incomes up to $150,000 will have their property taxes lowered.
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To the tune of $1,000, rebates will be given to homeowners with annual incomes of $150,000 to $250,000.
Details on how to apply for these refunds and when they will be distributed (spring of 2023) will be released later this fall.
