New Jersey real estate tax update

NJ real estate taxes are among the highest in the nation, and our local South Jersey neighborhoods hold some notorious statistical distinctions in real estate tax levels that I’ve written about in the past. This year the Anchor program replaces the NJ Homestead Benefit program. The new program is significantly different from the old tax relief program. The number of New Jerseyans now eligible for the new Anchor program is three times the number that were eligible for the Homestead Benefit.

Although the application process is presumably designed to be straightforward, I already see at least one or two possibly complicating issues. The state admits on its web site that it suspects overwhelming need for support from applicants. The application allows for a tax preparer to submit the application but I have not been asked to do that for anyone yet.

Anchor Program

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