Navigating New Jersey's Property Tax Relief Programs: Senior Property Tax Freeze, Anchor Benefit, and Stay NJ

New Jersey offers several property tax relief programs to help residents manage their financial burdens. Below, we explore the Senior Property Tax Freeze, Anchor Benefit, and Stay NJ Property Tax Credits, including eligibility criteria and application processes.

Senior Property Tax Freeze

The Senior Property Tax Freeze, also known as the Property Tax Reimbursement Program, reimburses eligible senior citizens and disabled persons for property tax increases on their principal residence.

Eligibility:

·        Must be 65 years or older or receiving federal Social Security disability benefits.

·        Must have owned and lived in their home since December 31, 2020, or earlier.

·        Total annual income must not exceed $168,268 for 2024.

·        Property must be subject to property taxes (mobile homeowners leasing a site are also eligible).

How to Apply:

·        Submit the combined application for Senior Freeze, Anchor Benefit, and Stay NJ programs.

·        Applications are available online or by mail. The filing deadline is October 31, 2025.

Anchor Benefit

The Affordable New Jersey Communities for Homeowners and Renters (ANCHOR) program provides property tax relief to homeowners and renters.

Eligibility:

·        Homeowners: Must have owned and occupied their home as their principal residence on October 1, 2024, with a gross income of $250,000 or less.

·        Renters: Must have rented and occupied a residence as their principal residence on October 1, 2024, with a gross income of $150,000 or less.

How to Apply:

·        Applications can be filed online or by phone using an ANCHOR ID and PIN.

·        The filing deadline is October 31, 2025.

Stay NJ Property Tax Credits

The Stay NJ program offers property tax relief specifically for senior homeowners.

Eligibility:

·        Must be 65 years or older.

·        Must have owned and lived in their home for the full 12 months of 2024.

·        Gross income must be below $500,000.

How to Apply:

·        Submit the combined application for Senior Freeze, Anchor Benefit, and Stay NJ programs.

·        Applications are available online or by mail. The filing deadline is October 31, 2025.

Streamlined Application Process

New Jersey has introduced a single combined application for these programs, simplifying the process for eligible residents. Applicants can file online or by mail, ensuring they meet the respective deadlines.

These programs are a testament to New Jersey's commitment to supporting its residents, particularly seniors and those with disabilities. If you're eligible, don't miss the opportunity to apply and ease your property tax burden.

For more ways to protect your home and retain these important property tax benefits, call Clark Esquire Group at 732-930-3160.