Speaker Coughlin and Assemblyman Moriarty Join Gloucester Seniors to Discuss Important Deadlines for Property Tax Relief Programs

(TRENTON) – On Thursday September 28, Assembly Speaker Craig J. Coughlin and Assemblyman Paul Moriarty met with seniors in Gloucester Township to discuss important deadlines to apply for New Jersey’s property tax relief programs, including ANCHOR and StayNJ.

Most homeowners who received ANCHOR benefits last year do not need to file a new application and will automatically receive this year’s benefit.  However, if any information from the previous year’s filing has changed, residents must file a new application by Saturday, September 30.  Residents who have not received ANCHOR benefits in the past have until the end of the December to apply for the program.

 This year’s ANCHOR benefit provides an additional $250 for seniors.  Tenants will receive $700, while homeowners can receive a maximum of $1,750.

 During the meeting with seniors, Speaker Coughlin and Assemblyman Moriarty   provided information about ANCHOR and the Senior Freeze property tax relief program.  They also shared details about StayNJ, a historic property tax relief program that will be implemented over the next few years.  StayNJ is designed to help life-long New Jerseyans stay in their homes and in the state.

“Ensuring our seniors can remain in their homes and age with dignity is paramount to our communities. Our commitment to helping elderly New Jerseyans reflects our dedication to housing equity,” said Speaker Coughlin (D-Middlesex). “New Jersey is a great place to live but it’s also an expensive place to live and more so, to retire. Affordability is a top concern for retirees and these programs will ease the financial burden for them.”

The StayNJ program, which was established as part of the FY 2024 State Budget, will provide tax credits to cut property tax bills in half for many seniors. The program’s maximum benefit is $6,500, and seniors with incomes up to $500,000 are eligible. Seniors can apply for the StayNJ program next year, with benefits beginning in January 2026.

“StayNJ is significant because it will help eligible seniors cut their quarterly property taxes by half, and the tax credit will be automatic,” said Assemblyman Moriarty (D-Camden, Gloucester). “STAY NJ will make life easier for our seniors, giving them more money in their pockets and enabling them to stay close to family and friends.”

 In addition to prioritizing property tax relief for seniors, the state legislature has worked to expand existing state programs that help seniors and disabled residents pay for their prescription drugs.  Beginning in January 2024, income eligibility is expanding for New Jersey’s Pharmaceutical Assistance to the Aged and Disabled program, known as PAAD.  Enrolled residents will save on premium costs and out-of-pocket expenses will be limited to a co-pay of $5 or $7 on most medications.