What You Need To Know About Your Anchor Property Tax Benefit

When Will You See Your Anchor Property Tax Money?

Last year residents received money back for property tax relief. New Jersey as we know has the highest property tax rates in America. According to Baker's ASC, "Hawaii is the state with the lowest real estate property tax rate, while New Jersey is the state with the highest, according to personal finance site WalletHub. In a report released Feb. 20, WalletHub determined the states with the highest and lowest property taxes." So this helps put some of the money going out to be put back into state residents' bank accounts.

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According to a Patch article, "the ANCHOR benefit - which will provide up to $1,500 for eligible homeowners and $450 to renters (plus an additional $250 for seniors) from a $2 billion funding pot." Last year the money was sent in October, this year it appears November 1st is the target date.

Remember, according to Patch "Those with eligibility accounted for from the Division of Taxation will be able to receive the benefit automatically. Those who need to apply will be mailed application packets, and those who need to edit information like marital status or address change must contact the state agency."

What did you do with the property tax rebate last year? What do you have planned for the money this year? Keep an eye out for your money towards the end of October.

CLICK HERE  for document information and Anchor applications.