Finance
The NJ ANCHOR (Affordable NJ Communities for Homeowners and Renters) program provides property tax relief to eligible homeowners based on:
AThe appraised value of the home
BHousehold income and the amount of property taxes or rent paid✓ Correct
CThe size of the mortgage
DThe municipality where the homeowner resides
Explanation
ANCHOR provides direct property tax relief payments to eligible NJ homeowners and renters based on their income and the property taxes (or rent equivalent) paid, replacing the prior Homestead Benefit program.
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