Home News N.J.’s new ANCHOR property tax program: Your questions answered

N.J.’s new ANCHOR property tax program: Your questions answered

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new jersey launched new program Help Homeowners and Tenants Save on property taxes.

ANCHOR program, abbreviated Affordable New Jersey Community for Homeowners and Rentersreplace Homestead Rebate.

The new program has different income limits and other eligibility than the Homestead Rebate, so more residents are eligible. There is no age limit, and the state Treasury Department said up to 2 million taxpayers should receive an average rebate of $971.

So are you qualified? What if I move, get divorced, or own the house with someone else? What if you manage the property or the house is in trust?

Everything you need to know about the program is here.

What years are you targeting?

This year’s anchor program is for 2019. As with Homestead Rebate, there is a time lag.

Who qualifies? how much can i get?

Homeowners with gross income of up to $150,000 in 2019 can receive up to $1,500. If your total income is between $150,000 and $250,000, you can receive up to $1,000. Tenants with gross income of $150,000 or less in 2019 will receive $450.

If you owned a home or condo and paid property taxes before October 1, 2019, you are considered a homeowner. A person who is a resident shareholder of a cooperative estate or a resident of a continuing care retiree community who is contractually required to pay property taxes for the unit is also considered a homeowner.

If you rented an apartment, condominium or house on October 1, 2019, or rented or owned a mobile home located in Mobile Home Park, you are considered a lessee.

Who is ineligible?

Owners with income over $250,000 and renters with income over $150,000 are not eligible.

Neither are those whose homes were exempt from paying property taxes, or who made pilot (substitute tax) payments.

Renters living in tax exempt, subsidized, or campus housing are also not eligible.

How do I apply?

Check your mailbox and email for information about the program. It contains the ID number and PIN you need to apply.

Take your time, said the Treasury Department.you can see Click here for email and email schedule However, the agency said it should be given by the first week of October.

If you do not receive your application information within 10 days of the county mailing date, call the ANCHOR Hotline at (888) 238-1233.

However, before calling PIN online If you applied for the Homestead Rebate last year.

I can’t answer the phone. what do i do?

When the program started, the caller said: couldn’t get through to have their questions answered by phone.

That’s no surprise, as the Treasury Department says it covers three times as many residents as the Homestead Rebate.

On Sept. 20 alone, the hotline received more than 14,000 calls between 8:30 a.m. and 5:30 p.m., spokesman Daniel Curry said. This compares to his 18,000 calls received in the entire month of August.

What is the deadline?

I have time. The deadline is December 30, 2022.

When and how can I receive my money?

Payments will begin in late spring 2023, but by May at the latest, the Treasury said.

“ANCHOR payments are made in the form of direct deposits or checks, not as property tax deductions,” he said, noting that bank information can be entered when applying. It doesn’t mean you will.”

Whenever you enter your banking information, be sure to double-check it. The state says it is “not responsible for lost profits if you enter incorrect account information.”

moved. Can I still apply?

If you owned a home in New Jersey on October 1, 2019, you may be eligible even if you sold your home.

Also, you don’t have to be a current resident.

If you did not receive notification by mail or email, please call our hotline at (888) 238-1233.

New residents must wait until the next year to apply.

If you need to change your mailing address, do so at the time of application, or online.

What if the homeowner receives the lessee’s mailer or vice versa?

Call the hotline at (888) 238-1233.

Why do I have to submit a paper application?

A paper application is required in certain scenarios, according to the Treasury Department.

For example, if you share ownership of your home with someone who is not your spouse or civil union partner and the percentage of ownership is not pre-printed on the worksheet, submit it on paper. Officials say there is a need.

The same is true if the primary home was a unit of a multi-unit property that you owned, or if the mailer listed the property correctly but required changes due to marriage or death.

Widows and surviving civil union partners who have both your name and the deceased partner’s name on the deed must apply on paper.

The same goes for an executor applying on behalf of a deceased homeowner, or anyone applying for property that is in trust. “If you are the beneficiary or the deed or trust deed expressly states that you have a life property in the property, you are eligible for property held by the trust,” the Treasury said. considered the owner,” he said.

If you live in a new building as of October 1, 2019 and have not received a mailing with your ID number and PIN, you will need to apply in paper form.

“Most homeowners who submit paper applications will be required to include supporting documentation to confirm eligibility,” the agency said, noting that they should check their applications for more information. did.

I don’t want to apply online. Can you do it with paper?

yes. However, the Ministry of Finance asks you to apply online or by phone.

How do I obtain a paper application form?

Homeowners who receive a notification with their ID and PIN online filing systemFirst, enter your ID and PIN. Then select the electronic filing system link to complete your application online. You can upload a paper application with attachments. Another option is to download the completed paper application, print it, and mail it along with your additional documents.

Mailing Address: ANCHOR Application, Revenue Processing Center, PO Box 636, Trenton, New Jersey 08646-0636

Homeowners who did not receive notice this year but applied for a Homestead Rebate last year: Get your ID and PIN online. Then follow the steps above.

Tenants cannot receive IDs and PINs, so they must enter their taxpayer ID (social security number or individual taxpayer number) and then answer the submission questions.

Residents who need to report paper application You can complete and upload the application online or download it, print it, and mail it.

If you’re having trouble downloading forms, Treasury recommends using Microsoft Edge or Google Chrome and updating to the latest Adobe software.

My spouse/civil union partner passed away. can you remove their name?

To have your name removed, you must submit a paper application and attach supporting documentation such as a death certificate.

I am divorced but the application has both our names on it. what happens?

According to the Treasury Department, if you divorced before October 1, 2019, you must submit a paper application in your name only and report your percentage of ownership.

On or after October 1, 2019, if you were divorced before January 1, 2020 and were living alone on October 1, 2019, only your name to report 100% ownership You must submit a paper application at .

If you and your ex-spouse lived in the home on October 1, 2019, you must submit a separate application to report the correct ownership percentage.

For all scenarios, you must report your 2019 New Jersey income tax return filing status.

I was the sole owner of my house and then got married. Then what?

If you and your spouse lived together on October 1, 2019, you must report your income to match your application, the Treasury said. However, if you were separated on October 1, 2019, please only report your income.

married. Can I receive a separate check for half of my profits?

yes.

Each person must fill out a separate application, enter only their name, and check a box that says, “I want to pay half of the benefits in my name only.”

However, you must enter your total gross income for 2019 on your application.

My home has multiple unmarried owners. what do we do

The Treasury Department says you must submit a paper application in your name only. If your name is not pre-printed on the form, please include a copy of your property deed showing that you are the owner.

We got married. How do I submit?

If you owned a home together on October 1, 2019 but got married by the end of the year, you are considered one owner.

“If you don’t want a name change, you can submit it online. File it online with your pre-printed name, enter your total gross income for 2019, and live with someone other than your spouse. When asked if you own a name, answer No. “If you need a name change, you must submit a paper application and include legal documentation showing the correct name.”

I live in one unit of an apartment complex. How do you file?

According to the Ministry of Finance, a paper application must be submitted.

Rent with a friend. How do I apply?

If you are borrowing from friends as of October 1, 2019, apply for each borrower.

What if there is only one name on the lease?

Tenants are only eligible if their name appears on the lease, the agency said.

I live in public housing. am i eligible?

Yes, as long as your residence is subject to property tax.

I paid rent to live in my friend’s house. am i eligible?

perhaps. To be eligible, you must have a lease in your name.

People who rent a room and share a kitchen or bedroom are not eligible.

I couldn’t afford to pay all the rent for 2019. Are you still eligible?

Yes, said the Treasury Department.

Do I have to report my income on my New Jersey income tax return?

No. According to the Treasury Department, this gain will not be reported as New Jersey income.

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Contact Karin Price Mueller at: [email protected]Follow her on Twitter. @KPMueller.

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