New Jersey has consolidated three tax relief programs under the ANCHOR (Affordable New Jersey Communities for Homeowners and Renters) umbrella, and for homeowners 65 and older, this integration represents a unique opportunity: combining benefits from ANCHOR, Senior Freeze, and Stay NJ for up to $6,500 in annual refunds, provided eligibility requirements are met and the homeowner has a property tax bill of at least $13,000.
Thousands of New Jerseyans are having to hurry because the deadline to apply for the stimulus checks expires on October 31st. That said, they have less than two weeks to act and maximize their economic relief amid persistent inflation.
Everything about these NJ stimulus checks programs
The ANCHOR program, relaunched in 2025, is not just a single check, but the gateway to a “combination package” designed to protect low- and middle-income residents from rising housing costs.
According to the New Jersey Department of Taxation and Finance, the maximum benefit of $6,500 is not delivered in one fell swoop, but through the strategic combination of three components applied sequentially.
“It’s like a tax puzzle: each piece fits together to cover up to 50% of your taxes, but with a cap of $6,500 total,” explains program director Sarah Johnson in a recent statement. This structure is intended to provide equitable relief, but requires applicants to qualify for all elements to reach the cap.
Step by step: The formula to reach $6,500
Let’s look at a practical example to better understand how this whole mess works. For example, a 68-year-old widow from Newark, with an annual income of $120,000, has a property tax bill of $14,000 in 2024. For her, the path to maximum benefits begins with the consolidated application (Form PAS-1), which automatically assesses eligibility for all three programs. Here’s a breakdown of how they combine.
ANCHOR: stimulus checks for every eligible resident
It’s the backbone of the entire initiative and offers a fixed rebate based on income and housing type, regardless of age. For homeowners with gross incomes up to $150,000, the benefit is $1,750; if they exceed $150,000 but do not reach $250,000, it drops to $1,250.
In the case of the imaginary woman from earlier, with $120,000, she receives the full $1,750. Renters (up to $150,000) receive similar amounts but don’t qualify for the other two programs. ANCHOR applies first and covers a direct portion of taxes paid in 2023-2024, reducing the basis for subsequent ones.
Senior Freeze: Protection against annual increases
Aimed at people 65 or older or with Social Security Disability (with no upper age limit), this refund offsets property tax increases compared to a base year (usually 2020 or 2021). The amount varies based on the actual increase—for example, if taxes increased by $800, the person of the example could receive up to that amount, subject to income limits (approximately $100,000–$150,000, adjusted annually).
It’s calculated after the ANCHOR, by subtracting that initial profit from the total bill. To maximize profit, it’s ideal to have a moderate but documented increase, as there’s no fixed cap here, just the combined total.
Stay NJ: The final boost to the 50% maximum
To illustrate how New Jersey’s combined property tax relief programs—ANCHOR, Senior Freeze, and Stay NJ—stack up for eligible seniors, consider this step-by-step example based on a $14,000 annual property tax bill for the same example woman from before:
| Step | Program | Calculation | Amount | Explanation | Running Total Relief |
|---|---|---|---|---|---|
| 1 | ANCHOR (Base Relief) | Fixed reimbursement based on income and homeownership | $1,750 | For eligible homeowners with income under $150,000; covers a portion of 2023-2024 property taxes | $1,750 |
| 2 | Senior Freeze (Increase Protection) | Reimbursement for the increase in property taxes from base year (e.g., 2020/2021) | $800 | Compensates for the $800 rise in taxes; available to those 65+ or disabled, with income limits | $2,550 ($1,750 + $800) |
| 3 | Stay NJ (50% Final Reimbursement) | 50% of remaining taxes after Steps 1 & 2 | $5,725 | Exclusively for homeowners 65+ with income under $500,000. Remaining taxes: $14,000 total – $2,550 = $11,450. 50% of $11,450 = $5,725. Capped at $13,000 base (max $6,500 benefit) | $8,275 ($2,550 + $5,725) |
| However, there’s an important clarification here: the program imposes a general cap of $6,500 on the sum of all benefits. Thus, Maria would receive exactly $6,500, adjusted proportionally if necessary. | |||||
This sequence—ANCHOR first, then Senior Freeze, and Stay NJ as a 50/50 “backfill”—ensures that total relief doesn’t exceed taxes paid or $6,500. To reach the maximum, you need:
- A: to be a homeowner age 65 or older with income in the low-to-middle range ($150,000 or less for full ANCHOR);
- or B: a tax increase eligible for Senior Freeze; and (c) a high base bill ($13,000+).
“Those living in counties like Essex and Hudson, with high rates, are the ones who benefit the most,” notes an analysis by the NJ Tax Policy Institute. How to Apply: Urgent Action Before October 31
One application to rule them all
A single application via the online portal (propertytaxreliefapp.nj.gov) or Form PAS-1 by mail. It requires identity verification via ID.me (a quick process using a driver’s license or passport) and details of income, residency, and 2023-2024 taxes.
Payments begin in 90 days for ANCHOR, with Senior Freeze starting in July and Stay NJ in quarterly installments starting in 2026 (February, May, August, and November, pending budget approval).