New Jersey’s state government has launched a program to help people struggling with rising rent and property taxes. If you live in New Jersey and need some financial relief, this program could be for you. The objective of this program is to keep housing costs down and make it easier to live in affordable areas. You can get up to $1,500 in financial aid if you qualify.
New Stimulus Program in New Jersey
While New Jersey isn’t New York City, the rising cost of rent makes the two metropolitan cities comparable. Many residents face difficulties paying their property taxes and renting apartments. Besides rising housing costs, the cost of groceries, electricity, and other important bills have also risen.
To help compensate for the increased cost of living, the state government started awarding 1,500 stimulus checks to help those living in New Jersey.
Program requirements
This beneficial program is known as the Affordable New Jersey Community for Homeowners and Renters ANCHOR 2024. You can apply for it online. Here are some of the requirements.
Homeowner requirements:
- You must have owned a home in New Jersey in 2019, which means you are the legal owner of the home as of January 1, 2019.
- In 2023, the combined family income is no greater than $150,000.
- All the members of the families must have paid taxes jointly.
Requirements for renters:
- In October 2019, you had to be living in New Jersey as your main home and have a certificate that proves you’re a New Jersey resident.
- Individuals whose income is less than $150,000 will receive the program’s benefits regardless of marital status.
What to expect after applying
If your income is less than $150,000, you’re eligible to receive $1500 in benefits. The department will also provide $1000 in benefits to families whose incomes fall between $150,000 and $200,000.
For those that do qualify, you should receive a payment directly to your bank account. The Department of the ANCHOR Tax Relief Program is responsible for the payment delivery dates.
What if you don’t receive a payment
If you were eligible for the stimulus checks but didn’t get them, don’t worry; you may need to wait a few days. If you still haven’t received anything after a few days, it’s recommended that you call the helpline number to ask about the delay. Slow payments may occur if there are a high number of applicants.
If you still haven’t gotten your $1,500 stimulus check, make sure you do these two things:
- Double-check the eligibility criteria to make sure you qualify.
- Look at the status of your application to see if your documents have been approved or if there’s an issue.
This government program is meant to provide financial support to New Jersey citizens so they can lead more stable and comfortable lives. With the extra cash, many citizens can afford to buy groceries, buy gas and pay for other necessities in life. Hopefully, other states will continue this effort.