With inflation still touching 40-year highs, several states in the United States of America have started issuing forms of financial relief to residents. The two most common kinds of relief being provided are tax rebates or stimulus checks.
The state of New Jersey became the latest state to sanction a tax relief program with state governor Phil Murphy signing off on the Affordable NJ Communities for Homeowners and Renters (ANCHOR) program.
The program aims to provide up to 1,500 dollars in property tax rebates to homeowners and 450 dollars to those who rent residences in the state.
“The ANCHOR program will deliver real, tangible property tax relief to both homeowners and renters, a historic step toward making New Jersey a more affordable state,” said governor Murphy.
“By working closely with the senate president and the speaker we were able to fully fund the program in its first year, allowing us to provide direct relief to over one million homeowners and 900,000 renters. I am incredibly proud of this program and encourage all eligible residents to apply.”
Who is eligible for the Relief Checks?
The program, which was initially announced by governor Murphy in March ahead of his official budget address, is open to homeowners and renters in New Jersey and have occupied their primary residence on Oct. 1, 2019, and filed state income taxes.
How much is the rebate worth?
Around 870,000 homeowners with incomes up to 150,000 dollars are set to receive payments worth 1,500 dollars. A further 290,000 homeowners whose incomes fall between 150-250,000 dollars will receive 1,000 dollars.
Finally, over 900,000 renters with incomes up to 150,000 dollars are eligible to receive 450 dollars to help offset their recent rent increases.
When will the payments be issued?
The deadline for filing for the rebate is December 30, 2022, with payments set to be issued no later than sometime in May 2023.