The state's ANCHOR program offers tax relief up to $1,750 for New Jersey residents who submit applications by Oct. 31. This aid targets both property owners and tenants who fit specific financial and age criteria. Senior property owners can claim $1,750, while younger owners get $1,650. Rules state property owners must have lived in their New Jersey homes since Oct. 1, 2024, with proof of tax payments. ANCHOR, short for "Affordable New Jersey Communities for Homeowners and Renters" aims to cut down what residents spend on property taxes.