There is less than a week left for New Jersey homeowners to file for a state program that will give them up to $1,500.

The Affordable New Jersey Communities for Homeowners and Renters program is still accepting applications from state homeowners and renters through Feb. 28, after which payments will be made starting in late spring. The benefits for this program will be sent to recipients via a direct deposit or check, according to New Jersey's Division of Taxation.

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“This is money going right back into the pockets of roughly 2 million New Jersey middle-class and working homeowners, seniors, and tenants — households in which well more than half of all of our residents live," Gov. Phil Murphy (D-NJ) said in a statement. “For more than a million homeowners, ANCHOR’s direct relief will effectively undo years of property tax increases — even up to a decade’s worth. And for nearly 1 million renters, ANCHOR’s tenant relief will cushion rent hikes."

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State homeowners and renters who apply for this program will have their payments issued to them no later than May. The payments will not be given to recipients in the order they were received.

Homeowners who apply to the ANCHOR program will receive $1,500 if their annual income is $150,000 or less or $1,000 if their annual income is between $150,001 and $250,000. To apply, they will need an ANCHOR ID and PIN, which they will use to apply online or by phone by calling 877-658-2972.

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Renters will not receive nearly as much as homeowners applying for this payment, but they can still apply and receive a payment of $450 as long as they make $150,000 or less annually. The Division of Taxation recommends that renters apply online because there is no phone option for renters to use to apply for this program, and they are not given an ID or PIN. Applicants for this program can also print an application and mail it in with any other documents required.

Additional information regarding this program can be found on the Division of Taxation's website.