How to Claim Your $1,750 Stimulus Check

New Jersey residents have the benefit of receiving a stimulus check of up to $1,750 through a tax relief program called ANCHOR (Affordable New Jersey Communities for Homeowners and Renters). However, it is important to note that not everyone is eligible for this program.

What is the ANCHOR program, and who can receive it?

ANCHOR is a state program that seeks to financially reduce the impact of certain taxes annually. In this case, homeowners can receive from $1,000 to $1,500 depending on their income, while tenants can receive up to $450. However, not everyone can apply; it is mandatory to meet certain requirements:

First requirement: Must be a resident of New Jersey.
Second requirement: Homeowners require that you have paid tax on your primary home for the relevant fiscal year. Remember, this must be your primary home, not a property used for income, such as a vacation home.
Third requirement: For tenants, it requires that you rented a home in New Jersey during the relevant assistance period and that your income is less than $150,000 annually.

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Another important point is that if you did not submit your application before December 6 last year, you will not be eligible for assistance. On the other hand, if you met all the requirements and submitted your application before that date, you are already on the payment list, but not everyone is paid at the same time.

When will you receive the stimulus check?

According to the ANCHOR program website, payments will begin in December 2024 and continue until 2025. In most cases, the check arrives within about 90 days of submitting the application, provided there are no problems with your information. If you already received this benefit last year, there is good news: many homeowners were already enrolled automatically. If this is your case, you don’t have to do anything else.

Now, if this is the first time you are applying for assistance, you will receive a letter by mail with a color code that identifies you as a homeowner or a tenant: homeowners will get a green color code and tenants will get a purple color code.

A very important point about this check is that it is not a standard benefit like the federal stimulus check. In fact, it is a strategy specifically to help with property taxes. Additionally, in this year’s application, the process has been simplified considerably.

For clarity: If your income is less than $150,000 and you are a homeowner, you will receive $1,500. If your income is between $150,000 and $250,000, the check will be for $1,000. If you are a tenant and do not make more than $150,000 annually, you will receive a check for $450.

What happens if my check is late?

Keep in mind that most people will receive their check within 90 days of submitting their application, that is, if the application deadline was December 6. You can easily count on it. However, if you haven’t received your payment yet or time passes and you don’t receive it, it could be that additional information is required or the verification process is slow.

You can contact the New Jersey Department of State and request information about it.