Democrat,

Our state’s existing property tax relief programs are no longer getting the job done for hard working middle-class families. We need to act to make New Jersey more affordable by stepping up with new, more robust tax relief that will meet the needs of our taxpayers.   

That’s why in my budget address on Tuesday, I will formally put forward a renewed commitment to direct property tax relief for households regardless of whether they own or rent – a total of nearly $900 million for nearly 1.8 million homeowners and renters. Learn more about this exciting new program here.

We are calling this the ANCHOR Property Tax Relief Program — “Affordable New Jersey Communities for Homeowners and Renters.”  Through ANCHOR, some 1.15 million homeowners with incomes up to $250,000 will qualify for direct property tax relief. Additionally, more than 600,000 renters with incomes up to $100,000 will also be eligible for direct relief to offset the rent increases caused by increasing property taxes. 

For homeowners, relief this year will average nearly $700. For renters, it will be up to $250, and we expect that to increase in the coming years.  

More than five million New Jerseyans live in a household set to receive relief through ANCHOR. This is relief that will provide greater relief from property taxes and allow people to stay in their homes. 

We don’t want property taxes to force families out of New Jersey. I take great pride in all our administration has done to invest in our schools and communities to offset the drivers of higher property taxes by taking some of the weight off of property taxpayers. We have made great strides – our administration has presided over the lowest year-to-year increases in property taxes on record. But I'm not going to be satisfied by merely slowing the rate of growth. 

Now is the time for greater relief. It’s time we allow more families to drop ANCHOR in their homes and communities.  

Thank you,  

Governor Phil Murphy