Who gets $1500 from the state of New Jersey?
Homeowners can receive $1,500 when they owned and lived in their main New Jersey home on 1st October in 2024. In addition, such homeowners should be age 64 or younger in 2024 and have had a 2024 New Jersey gross income of $150,000 or less — NJ-1040, line 29.
What counts as an eligible home for the $1,500 tier?
The home should simply be your primary residence along with local tax linked to you.
Home types that can count are presented below:
- A condo you own
- A co-op unit where you are a resident shareholder
- Specific continuing care retirement community units where your contract requires a share of local taxes
Situations that do not satisfy the homeowner rules are outlined as follows:
- Second or vacation homes
- Homes rented to someone else
- Properties with more than four units
- Four-unit (or smaller) properties with more than one commercial unit
- Homes fully exempt from local tax
- Homes where you paid municipal P.I.L.O.T. charges instead of tax
What if you do not satisfy the $1,500 requirements?
It is still possible to receive an ANCHOR payment. However, the amount changes in parallel to age & applicant type and the bracket used for that cycle.
These amounts come from the state’s published ANCHOR calculation rules for the 2024-based cycle.
How do you apply or check your status?
Use the Division of Taxation ANCHOR portal to submit or track a claim. Seniors and Social Security disability recipients file Form PAS-1 for that combined application process.
- Sign in & complete ID.me verification
- Keep the NJ return for the cycle ready
- If you own, have the county/municipality code and block/lot/qualifier from the tax bill
- Choose direct deposit only if you have bank details ready
- Respond quickly if the state requests documents
Want a quick review from Wasserman Accounting?
Contact us at Wasserman Accounting today for NJ ANCHOR rebate eligibility matters. Our professionals can match your facts to the program’s homeowner or renter track.