Some Americans may wonder when to expect refunds now that the application time for the New Jersey property tax rebate has finished and if they may also qualify for one next year.
For the first year of Affordable New Jersey Communities for Homeowners and Renters (ANCHOR), New Jersey Governor Phil Murphy said that more than 1.6 million New Jersey families had joined up.
This is a representation photo showing a white house under maple trees. Eligible Americans are expected to receive money under the New Jersey property tax rebate. (Photo by Scott Webb via Unsplash)
“For more than a million homeowners, ANCHOR’s direct relief will effectively undo years of property tax increases – even up to a decade’s worth,” said Governor Murphy in a statement.
He added that ANCHOR’s tenant assistance will protect roughly one million renters from rent increases.
In 2022, the $2 billion ANCHOR benefit program will take over as New Jersey’s main program for property tax relief, replacing the Homestead Rebate. According to authorities, the initiative will treble the number of households who are eligible for the refund.
Later this month, according to Murphy, ANCHOR beneficiaries will start receiving direct payments in the form of checks or direct deposits.
ALSO READ: Illinois: Bradley Village Has Until The End Of The Month To Claim A Property Tax Rebate
New Jersey Property Tax Rebate: Who is Qualified?
In an NJ report, the number of applicants who are availing the New Jersey Property Tax Rebate are “likely going to climb considerably higher,” according to Murphy, due to the remaining applications in the mail.
He added that the initial round of coverage would ultimately cover 4 to 5 million individuals who reside in homes who apply, or almost half the state’s population.
Whyy mentioned that a New Jersey property tax rebate of $1,500 will be given to qualified homeowners earning under $150,000 in 2021, while a tax credit of $1,000 will be given to those earning between $150,000 and $250,000. Tenants with incomes up to $150,000 will get a direct cheque for $450.
The state’s website allows users to track the progress of their applications. To assist people in applying and determining their eligibility, New Jersey Monitor mentioned that state tax officials are also hosting free public events all around the state. The ANCHOR program information line is 1-888-238-1233, where anyone can also call.
RELATED ARTICLE: Property Tax Refunds: Will Cook County Homeowners Get A Rebate?
