...how it was calculated, and why many residents saw significant increases. This morning, I'll walk through the New Jersey property tax relief programs that may help lower those costs.  Part 3, which I'll send later today, will explain Hoboken's 2026 budget, what drove the increase, and where your tax dollars are going.

These are income-based programs, generally available to households earning between $200,000 and $250,000 or less, depending on the program. Benefits range from $450 for eligible renters to as much as $6,500, or 50% of a property tax bill, for eligible senior homeowners.

Because the rules can be complicated, I describe below and created this page to explain how the programs work, who qualifies, and how they fit together.

The good news is that you may qualify for one or more programs, and only one application is required.  And you have some time to apply as the application deadline is November 2, 2026.

Links to the NJ Division of taxation and these programs are found on this page.

PART 2: PROPERTY TAX RELIEF PROGRAMS

As property taxes continue to rise, New Jersey has expanded the assistance available to homeowners, seniors, and renters with incomes of $250,000 or less.  This assistance is provided through three, NJ State funded programs:  

• ANCHOR
• Senior Freeze and
• Stay NJ.  

Eligibility is based on income, residency, age, and homeownership requirements. Only one application is required.

WHO CAN APPLY?

• NJ homeowners and renters of all ages:  ANCHOR
• NJ homeowners age 65 and older: ANCHOR, Senior Freeze and Stay NJ all through one application

ANCHOR

Unlike some of the other programs, ANCHOR is available to New Jersey residents of ALL AGES, whether they are homeowners or renters.  

Even if you are not eligible for Senior Freeze or Stay NJ, you may still qualify for ANCHOR benefits. Residents who are 65 years of age or older may also qualify for the Senior Freeze and Stay NJ programs. Homeowners and renters with incomes above these limits are not eligible for ANCHOR.

SENIOR FREEZE

This is an important program because, for income-eligible seniors (65+) who are homeowners, it effectively freezes property taxes at the amount paid during a base year.

Example: Suppose your property taxes were $10,000 in your base year.

Qualifications

• Be 65 years of age or older (or receive qualifying disability benefits).
• Have owned and occupied the property as your principal residence since December 31, 2022.
• Meet the applicable income requirements.

Current income limits are $172,475 for 2025.

STAY NJ

This is the show stopper.  The Stay NJ program brings it all together.

It is designed to combine ANCHOR, Senior Freeze, and Stay NJ benefits so an eligible senior homeowner with an income of $200,000 or less can receive as much as 50% of their property taxes, subject to income-based caps:

ANCHOR and Senior Freeze benefits are calculated first. Stay NJ then provides the additional amount, if any, needed to reach the homeowner’s maximum total benefit.

Qualifications

• Be 65 years of age or older.
• Have owned and occupied the home for the full calendar year.
• Reside in a home subject to property taxes or a PILOT agreement.
• Meet the applicable income requirements.

Example: Suppose the 67 year old homeowner has:

• Income of $145,000
• Property taxes of $11,000.
• An ANCHOR benefit of $1,750.
• A Senior Freeze reimbursement of $1,000.

For many seniors, the combined benefits of these programs can amount to thousands of dollars in annual savings.

Because eligibility depends on your individual circumstances and program requirements may change, please check with the New Jersey Division of Taxation for answers to specific questions.

Apply for Property Tax Relief

Program Information and Frequently Asked Questions

Property Tax Relief Hotline: 1-888-238-1233

REMINDER Application deadline: November 2, 2026

Hopefully this information helps those who may qualify for these programs.  For those who don't, please know that I remain committed to working with the administration to control spending, identify new sources of revenue where appropriate, improve efficiency, and ensure that residents receive the greatest possible value for every tax dollar they pay. 

Part 3, which I'll send later today, will walk through exactly how Hoboken's municipal tax increase reached 11.5%, what drove those increases, the steps we took to reduce them, and what still lies ahead.  If you missed Part 1 - you can find it HERE.

 Affordability remains one of the most important issues facing our community, and I will continue working toward solutions that help keep Hoboken accessible to residents of all ages and income levels.

As always, please do not hesitate to reach out by email or by text/phone 201-208-1674 with any questions on this or anything else important to you.