Homeowner
The benefit is calculated using income on line 29 of your 2024 NJ-1040 and varies depending on your age and income amount. If your income on line 29 exceeded $250,000, you are not eligible.
| In 2024, age 65 or older |
| 2024 Gross Income (NJ-1040 Line 29) |
Benefit Amount |
| $150,000 or less |
$1,750 |
| $150,001 - $250,000 |
$1,250 |
| If you filed Form PAS-1 and qualify for all three property tax relief programs (ANCHOR, Senior Freeze, Stay NJ), visit Stay NJ Calculation to see how we calculate the benefit. |
Property Tax Credit
If you are 65 or older and either do not need to file a tax return or did not claim a $50 Property Tax Credit, that credit will be added to your ANCHOR benefit payment.
Cap on Benefits
The total amount of all property tax relief benefits you receive cannot be more than the property taxes paid on your principal residence (main home) for the same year (ANCHOR, Senior Freeze, Stay NJ, Property Tax Deduction for senior citizens/disabled persons, and Property Tax Deduction for veterans).
| In 2024, age 64 or younger |
| 2024 Gross Income (NJ-1040 Line 29) |
Benefit Amount |
| $150,000 or less |
$1,500 |
| $150,001 - $250,000 |
$1,000 |
Payment Information
Payments will begin on a rolling basis, starting September 15, usually within 90 days of filing. Applicants who file by paper will have a paper check option only. Online applicants will have the option to receive a paper check or direct deposit.
Renter
Benefit Amount
For 2024, applicants who were age 65 or older by December 31, 2024, will receive an additional $250.
| Age in 2024 |
64 or younger |
65 or older |
| Benefit Amount |
$450 |
$700 |
Property Tax Credit
New Jersey renters, age 65 and over, who are not required to file a New Jersey Gross Income Tax return (NJ-1040), are eligible for a Property Tax Credit of up to $50. If you were a renter, over 65, in New Jersey on October 1, 2024, and did not claim a $50 Property Tax Credit on the NJ-1040, the credit will be included in your ANCHOR benefit payment.
Benefit Payment
Payments will begin on a rolling basis, starting September 15, usually within 90 days of filing. Applicants who file by paper will have a paper check option only. Online applicants will havehe option foto receive paper check or direct deposit.
Official Site of The State of New Jersey