$1,750 Stimulus Checks Are Here! Find Out If You Qualify for the ANCHOR Program?

Residents of New Jersey can receive a stimulus check of up to $1,750 through a tax relief program called ANCHOR.

This program is designed to provide financial support for homeowners and renters struggling with property taxes. However, not everyone qualifies, so understanding the eligibility rules is key.

What Is the ANCHOR Program?

ANCHOR (Affordable New Jersey Communities for Homeowners and Renters) is a state initiative that reduces the financial burden of property taxes.

Homeowners can receive between $1,000 and $1,500 depending on their income.
Renters may qualify for a payment of $450, provided they meet specific criteria.

This program focuses exclusively on property tax relief, making it distinct from general federal stimulus checks.

Who Is Eligible for the Stimulus Check?

To benefit from the ANCHOR program, you must meet these conditions:

Residency:
- You must have been a New Jersey resident during the applicable tax year.
Homeowners:
- You need to have paid property taxes on your primary home (not a vacation home or a rental property).
Renters:
- You must have rented a property in New Jersey during the eligible period.
- Your annual income must be $150,000 or less.
Application Deadline:
- You must have submitted your application by December 6, 2024 to qualify.

If you meet all these requirements and apply on time, you are already on the list to receive your payment.

How Much Can You Receive?

Here’s a quick breakdown of the payments:

Homeowners:
- Earn less than $150,000: Get $1,500.
- Earn between $150,000–$250,000: Get $1,000.
Renters:
- Earn less than $150,000: Get $450.

The program ensures relief amounts are tied to income levels, prioritizing those most in need.

When Will Payments Be Made?

Payments under the ANCHOR program will begin in December 2024 and continue throughout 2025.

Most payments are sent out within 90 days of submitting your application.
If you received this benefit in a previous year, you may already be automatically enrolled for this year.

How To Check If You Qualify?

If you’re applying for the first time, the state will send you a color-coded letter by mail to confirm your eligibility:

Green Code: For homeowners.
Purple Code: For renters.

These codes simplify the identification process and provide clear instructions for the next steps.

Steps To Receive Your Payment

Check Your Eligibility: Ensure you meet all residency, income, and tax-related criteria.
Submit Your Application: Applications must have been filed by December 6, 2024.
Wait for the Payment: If approved, your check will be processed and mailed within the expected timeline.

What To Do If Your Payment Is Delayed?

Most payments are processed within 90 days, but delays can occur if:

Your information needs further verification.
Additional documentation is required.

If your payment is delayed beyond this period, you should contact the New Jersey Department of Revenue for assistance. They can help resolve any issues with your application or payment.

Key Benefits of the ANCHOR Program

Simplified Process: The application process has been streamlined this year, making it easier to apply and track your payment.
Targeted Relief: ANCHOR focuses on reducing property tax burdens unlike federal stimulus checks.
Significant Support: Payments of up to $1,750 can make a substantial difference for eligible residents.

Conclusion

The ANCHOR program provides valuable financial relief for New Jersey residents dealing with property taxes. By meeting the eligibility criteria and submitting your application on time, you can receive up to $1,750 in stimulus support.

If you’re a homeowner or renter in New Jersey, don’t miss out on this opportunity. Keep an eye out for the mailed letter confirming your eligibility, and contact the Department of Revenue if you face any issues with your payment.