A government endeavor to bring financial assistance to citizens of the highly taxed state of New Jersey includes a new program that can offer up to $1,500 in stimulus checks. New Jersey homeowners and renters have less than six weeks to register for the scheme.
Who’s Eligible For New Jersey Stimulus Checks?
The state legislature and New Jersey Governor Phil Murphy approved the Anchor program last year. By giving rebates to both homeowners and renters, it seeks to provide relief. The New Jersey Division of Taxation has provided the following list of rebates:
- Homeowners with yearly earnings of up to $150,000 will get $1,500.
- Homeowners who earn between $150,000 and $250,000 will receive a $1,000 grant.
- Renters making up to $150,000 in annual income will receive $450.
The application for the Anchor benefit must be submitted by February 28, 2023. Benefit payments will start to be made by the Division of Taxation in the late spring of 2023. Payments will not be applied as credits to property tax bills; instead, they will be made via direct deposit or check.
How To Apply?
For online or telephone applications, homeowners must have an Anchor ID and PIN. If you applied for the Homestead Benefit program last year but didn’t get a mailer or email with an ID and PIN, you can utilize the online ID and PIN inquiry system to get your ID and PIN. A written application is required from some homeowners for the reasons indicated above. Call 877-658-2972 to apply over the phone instead.
It is suggested that qualified tenants apply online as they lack an Anchor ID and PIN. There isn’t a phone option, but applicants can also submit a paper application. Age is not a factor in eligibility for the Anchor program. Each owner of a home you co-own with someone who isn’t your spouse must submit their own ANCHOR application.
The fact that their state taxes won’t rise the following year is at least some solace for New Jersey residents, who are already dealing with high inflation costs and economic fears.
Gov. Phil Murphy promised on Thursday that when he submits his next budget in February, taxes would remain stable. The budget is for the fiscal year beginning on July 1 and ending on June 30, 2024.
Murphy made his remarks just a few days after delivering his fifth State of the State address, in which he praised his economic record but did not provide any information about his plans for the coming year. At least some of his economic thinking as he gets ready to deliver his budget speech was revealed in the Bloomberg interview.