New Jersey Homeowners Given 17-day Window to Apply for $1,500 Stimulus Payment

New Jersey Homeowners

New Jersey residents who own or rent a home have the opportunity to apply for the Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) program, which is designed to provide financial assistance. Homeowners can apply for a payment of up to $1,500, while renters can apply for a payment of up to $450. However, the program has a deadline of Feb. 28, so there are only 17 days left for interested individuals to apply.

The ANCHOR program is part of New Jersey Governor Phil Murphy’s efforts to help middle-class and working families in the state. In a statement, he emphasized that the program will provide direct relief to homeowners, seniors, and tenants who are struggling with property tax increases or rent hikes. He estimated that the program will benefit around 2 million households in the state.

The amount of financial assistance provided by the program is based on the recipient’s annual income. Homeowners can receive $1,500 if their annual income is $150,000 or less, or $1,000 if their annual income is over $150,000. Meanwhile, renters can apply for a payment of $450 if they make $150,000 or less annually.

To apply for the program, homeowners must have an ANCHOR ID and PIN. These can be used to apply online or by phone. Renters, on the other hand, must apply online as there is no phone option for them. Additionally, renters are not given an ID or PIN. Applicants can also print an application from the internet and mail it in with any other required documents.

It’s important to note that payments will not be given to recipients in the order they were received. Payments will be made starting in late spring and issued to applicants no later than May. Therefore, it’s recommended that applicants apply as soon as possible to ensure they receive the financial assistance they need.

Those who are interested in learning more about the ANCHOR program can visit the Division of Taxation’s website for additional information. With only 17 days left before the application deadline, eligible New Jersey residents are urged to apply as soon as possible to take advantage of this financial assistance program.

Christopher Charles spent 6 years in the mortgage industry before moving into the world of digital media. He's helped thousands of families buy and refinance real estate at banks and mortgage companies and now continues that mission through industry-leading content. Chris is known for his expertise in the mortgage & real estate industry and continues to produce content all over the web.

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