The first wave of stimulus checks to New Jersey residents experiencing financial hardship will go out on Wednesday, and households will receive up to $1,500 in property tax relief.

In 2019, New Jersey extended the eligibility for its new Property Tax Relief Program. A significant portion of homeowners and renters will now benefit from the Affordable New Jersey Communities for Homeowners and Renters Property Tax Relief Program.

To be eligible for an ANCHOR rebate, a recipient must pay property taxes on their primary residence in New Jersey. Eligible recipients must also have lived in the residence for which they are requesting a rebate for the past three years and must have lived in New Jersey for at least 10 years. Those who receive FSS disability benefits also can be eligible for the rebate. There is no age limit for the ANCHOR program.

CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER

Homeowners who make $150,000 or less annually will receive $1,500. Those earning between $150,001 and $250,000 will receive a $1,000 rebate. Residents renting a home and earning $150,000 or less will receive $450 from the ANCHOR program. Seniors 65 years of age and older will also earn an extra $250 on whichever benefit they qualify for.

The applications went out in October 2023 and were open until Dec. 29, 2023. Payments will be disbursed on Wednesday and arrive based on the delivery method selected on the application, either as a direct deposit or a paper check.