OT: NJ Property Tax Relief Applications

[retired711]

I just went through the process of submitting an application for NJ Freeze, Anchor, and Stay NJ The good news is that it's one combined application although each program has different eligibility requirements But be aware that you will need to set up an id.me account if you don't have one. That means you will have to submit photos of the front and rear of your driver's license and (at least for me) one other identity document. I then got to speak via video call to a young man who verified my information. Then I got to the actual application. You will need a copy of your 2023 and 2024 tax returns and your property tax bill showing block and lot. Take a deep breath before starting because it is a long process even for those of us who have gotten NJ Anchor benefits in the past. The deadline is October 31. Do your income taxes first, and then you'll be able to cope with the application.

For most homeowners over 65, the big one is Stay NJ, which will reimburse 50% of property taxes up to $6500 for those with household income under $500,000.

 

[AM ClocksPF]

I assumed that the Stay in NJ was automatic, the article I read last year did not indicate that we have to apply for this Stay in NJ.

Thanks

I just went through the process of submitting an application for NJ Freeze, Anchor, and Stay NJ The good news is that it's one combined application although each program has different eligibility requirements But be aware that you will need to set up an id.me account if you don't have one. That means you will have to submit photos of the front and rear of your driver's license and (at least for me) one other identity document. I then got to speak via video call to a young man who verified my information. Then I got to the actual application. You will need a copy of your 2023 and 2024 tax returns and your property tax bill showing block and lot. Take a deep breath before starting because it is a long process even for those of us who have gotten NJ Anchor benefits in the past. The deadline is October 31. Do your income taxes first, and then you'll be able to cope with the application.

For most homeowners over 65, the big one is Stay NJ, which will reimburse 50% of property taxes up to $6500 for those with household income under $500,000.

 

[knightfan7]

I assumed that the Stay in NJ was automatic, the article I read last year did not indicate that we have to apply for this Stay in NJ.

Thanks

Thought the same.

 

[retired711]

Thought the same.

Apparently all that was meant was that no separate application would be required -- that instead the NJ Anchor application would suffice. That's why the one application covers all the property tax relief programs.

People should be aware that social security benefits (which can be $100,000 or more for a married couple if both worked at high-income jobs during their careers) count in the calculation of income eligibility. New Jersey income tax doesn't apply to social security benefits and so the state needs the applicant to tell them their amount.

 

[DHajekRC84]

I just went through the process of submitting an application for NJ Freeze, Anchor, and Stay NJ The good news is that it's one combined application although each program has different eligibility requirements But be aware that you will need to set up an id.me account if you don't have one. That means you will have to submit photos of the front and rear of your driver's license and (at least for me) one other identity document. I then got to speak via video call to a young man who verified my information. Then I got to the actual application. You will need a copy of your 2023 and 2024 tax returns and your property tax bill showing block and lot. Take a deep breath before starting because it is a long process even for those of us who have gotten NJ Anchor benefits in the past. The deadline is October 31. Do your income taxes first, and then you'll be able to cope with the application.

For most homeowners over 65, the big one is Stay NJ, which will reimburse 50% of property taxes up to $6500 for those with household income under $500,000.

yes I took me almost an hour to do it all because I had to gather all that info on the fly and create that id.me
It would be nice if they told you all you will need as a list before you start the process.

As I also noted a few weeks ago when I posted about this process and changes is that the base year for Anchor has eliminated 2022 & 2023 to harmonize the basis for income . for non-seniors this could screw them out of the program or reduce their benefit because their income could have changed as well as their residency as home owner vs. renter.

 

[retired711]

yes I took me almost an hour to do it all because I had to gather all that info on the fly and create that id.me
It would be nice if they told you all you will need as a list before you start the process.

As I also noted a few weeks ago when I posted about this process and changes is that the base year for Anchor has eliminated 2022 & 2023 to harmonize the basis for income . for non-seniors this could screw them out of the program or reduce their benefit because their income could have changed as well as their residency as home owner vs. renter.

The form does ask for 2023 and 2024 income, so presumably benefits are based on that income.

 

[DHajekRC84]

The form does ask for 2023 and 2024 income, so presumably benefits are based on that income.

2024

(owner)You are eligible if:

• You were a New Jersey resident; and
• You owned and occupied a home in New Jersey that was your principal residence (main home) on October 1, 2024; and
• Your home was subject to property taxes; and
• Your 2024 New Jersey gross income was not more than $250,000.

(renter)
You are eligible if:

• You were a New Jersey resident; and
• You rented and occupied a residence in New Jersey that was your principal residence (main home) on October 1, 2024; and
• Your name was on the lease or rental agreement; and
• You paid rent; and
• The rental property was subject to local property taxes, (see Qualified and Non-Qualified Rental Properties); and
• Your 2024 New Jersey gross income was not more than $150,000.

The payments for 2022 and 2023 that Christie postponed for budget balancing reasons have now been eliminated.

 

[RU-Kidding]

I just went through the process of submitting an application for NJ Freeze, Anchor, and Stay NJ The good news is that it's one combined application although each program has different eligibility requirements But be aware that you will need to set up an id.me account if you don't have one. That means you will have to submit photos of the front and rear of your driver's license and (at least for me) one other identity document. I then got to speak via video call to a young man who verified my information. Then I got to the actual application. You will need a copy of your 2023 and 2024 tax returns and your property tax bill showing block and lot. Take a deep breath before starting because it is a long process even for those of us who have gotten NJ Anchor benefits in the past. The deadline is October 31. Do your income taxes first, and then you'll be able to cope with the application.

For most homeowners over 65, the big one is Stay NJ, which will reimburse 50% of property taxes up to $6500 for those with household income under $500,000.

"For most homeowners over 65, the big one is Stay NJ, which will reimburse 50% of property taxes up to $6500 for those with household income under $500,000." Assuming timing filing, when is it expected for the Stay NJ to be reimburseed by the State???? 2026??

 

[knightfan7]

"For most homeowners over 65, the big one is Stay NJ, which will reimburse 50% of property taxes up to $6500 for those with household income under $500,000." Assuming timing filing, when is it expected for the Stay NJ to be reimburseed by the State???? 2026??

Yes, 2026

 

[retired711]

"For most homeowners over 65, the big one is Stay NJ, which will reimburse 50% of property taxes up to $6500 for those with household income under $500,000." Assuming timing filing, when is it expected for the Stay NJ to be reimburseed by the State???? 2026??

The state's site says early 2026.