Tax Relief for Montgomery Township: How ANCHOR, Senior Freeze, and Stay NJ Can Save You Thousands

March 15, 2025
By Nicholas Mistretta

In a significant move to streamline property tax relief, New Jersey has introduced three programs: ANCHOR, Senior Freeze, and Stay NJ to assist homeowners and renters. These initiatives aim to provide financial relief to eligible residents, including those in Montgomery Township.

ANCHOR (Affordable New Jersey Communities for Homeowners and Renters) Program
The ANCHOR program offers property tax relief to New Jersey residents who own or rent their principal residence and meet specific income criteria. For the 2024 tax year, eligibility requirements are as follows:

– Homeowners: Must have a gross income not exceeding $250,000.
– Renters: Must have a gross income not exceeding $150,000.

Benefits for homeowners can reach up to $1,500, while renters may receive up to $450. An additional $250 is available for seniors aged 65 or older. The application deadline is October 31, 2025. Senior Freeze (Property Tax Reimbursement) Program The Senior Freeze program reimburses eligible senior citizens and disabled persons for increases in property taxes or mobile home park site fees on their principal residence. To qualify, applicants must meet the following criteria:

– Be 65 years of age or older, or a recipient of Social Security Disability benefits as of December 31, 2024.
– Have a gross income of $168,268 or less in 2024 and $163,050 or less in 2023.
– The application deadline is also October 31, 2025.

Stay NJ Property Tax Credit Program
A new addition for the 2024 tax year, the Stay NJ program provides further relief to senior homeowners. Eligible applicants must:

– Be 65 years of age or older.
– Have a gross income below $500,000.
– Have owned and occupied their home for at least 12 months of the tax year.

The program offers a benefit of up to $6,500, calculated after determining ANCHOR and Senior Freeze benefits. The application deadline is October 31, 2025.

Combined Application Process
To simplify the application process, New Jersey has introduced the PAS-1 form, allowing eligible residents to apply for all three programs simultaneously. The PAS-1 form is available online and will also be mailed to over 578,000 residents. For more information, Montgomery Township residents can visit the Montgomery Township Finance Department’s website.

Impact on Montgomery Township Residents
For residents of Montgomery Township, these programs present valuable opportunities for property tax relief. By meeting the eligibility criteria and submitting the PAS-1 application by the October 31, 2025 deadline, residents can receive financial assistance that may significantly reduce their property tax burden.

How to Apply
Montgomery Township residents can apply for these programs using the PAS-1 form, available online at the New Jersey Division of Taxation’s Property Tax Relief Programs website. For assistance or more information, residents can contact the ANCHOR hotline at (888) 238-1233 or (609) 826-4282. Additionally, regional help centers are available for in-person support.