The ANCHOR program (Affordable New Jersey Communities for Homeowners and Renters) is a property tax relief initiative aimed at providing financial support to eligible New Jersey residents.

For those who applied in December 2024, understanding the timeline for receiving the $1,750 stimulus payment is critical to managing finances during this period.

This article outlines when you can expect your payment, the eligibility criteria, and how the program works to support homeowners and renters.

When Will You Receive the $1,750 Stimulus Payment?

For individuals who submitted their application by the December 6, 2024, deadline, payments will be distributed on a rolling basis.

According to the New Jersey ANCHOR program, most applicants can expect their payments approximately 90 days after filing, barring any issues or delays in processing.

Key Timeline Details:

• Application Deadline: December 6, 2024.
• Payment Processing: Payments begin in December 2024 and will continue into 2025.
• Standard Wait Time: Most recipients will receive their payments within 90 days of their application submission.
• Delays: Additional information or verification may extend the processing time.

The program has implemented measures to ensure efficient processing, with many homeowners automatically re-enrolled if they received benefits in previous years.

First-time applicants should monitor their mail for communication from the program, including green envelopes for homeowners and purple envelopes for renters.

What Is the ANCHOR Program?

The ANCHOR program is a New Jersey state initiative designed to provide relief for rising property taxes, particularly for low- to middle-income homeowners and renters.

By addressing property tax burdens, the program aims to ease financial pressures and improve affordability for residents.

Program Highlights:

• Provides direct payments to eligible homeowners and renters.
• Targets New Jersey residents based on income levels.
• Focuses on assisting primary residences only (vacation homes and rental properties are excluded).

Eligibility Criteria for the $1,750 Stimulus Payment

To qualify for the ANCHOR program, applicants must meet specific residency, income, and property requirements.

1. Residency and Citizenship

• Applicants must be U.S. citizens residing in New Jersey.
• Only primary residences qualify; vacation homes and rental properties are excluded.

2. Income Limits

The program includes tiered payments based on income:

For Homeowners:

• Income up to $150,000: Eligible for $1,500.
• Income between $150,001 and $250,000: Eligible for $1,000.

For Renters:

• Income up to $150,000: Eligible for $450.
• Income above $150,000: Not eligible.

3. Property Requirements

• Homeowners must have paid property taxes on their principal residence.
• Renters must have a valid lease for their residence in New Jersey.

How Payments Are Distributed

The ANCHOR program offers streamlined processing to ensure timely payment:

• Automatic Enrollment: Many homeowners who received benefits in prior years are automatically enrolled.
• Direct Deposits and Checks: Payments will be sent either through direct deposit or as physical checks.
• Verification for First-Time Applicants: First-time applicants may require additional verification, which could slightly delay payments.

Why the ANCHOR Program Matters

The ANCHOR program provides significant financial relief for residents struggling with high property taxes. For many, the stimulus payment helps cover essential expenses such as:

• Utilities
• Groceries
• Medical Bills

With New Jersey having one of the highest property tax rates in the nation, initiatives like the ANCHOR program are vital for maintaining financial stability among its residents.

For New Jersey residents, the ANCHOR program offers much-needed relief from the financial pressures of property taxes. If you applied for the $1,750 stimulus payment in December 2024, you can expect to receive your payment within approximately 90 days.

This initiative underscores the state’s commitment to providing financial support for low- and middle-income households, ensuring they can maintain stability during challenging economic times.

By understanding the eligibility criteria, processing timelines, and the program’s benefits, recipients can better prepare for the financial relief that the ANCHOR program provides.

If you haven’t received your payment by the expected date, ensure your application details are up to date and reach out to the relevant authorities for assistance.

When will I receive the $1,750 payment if I applied in December?

Most applicants will receive their payments within 90 days of filing. Payments will be processed on a rolling basis starting in December 2024 and continuing into 2025.

Do I need to reapply if I received the payment last year?

No, many homeowners are automatically re-enrolled if they received benefits in prior years. First-time applicants must complete the application process.

How can I check my payment status?

You can track your payment status by contacting the New Jersey Division of Taxation or visiting their online portal.