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Income Tax Treatment of ³Ô¹ÏºÚÁÏ Property Tax Benefit Payments

Affordable ³Ô¹ÏºÚÁÏ Communities for ³Ô¹ÏºÚÁÏowners and Renters (ANCHOR), Stay NJ, and Senior Freeze (Property Tax Reimbursement) payments are not taxable for ³Ô¹ÏºÚÁÏ Income Tax purposes and should not be reported on the ³Ô¹ÏºÚÁÏ Income Tax return.

Information on the federal tax treatment of these payments, called "recoveries" by the IRS, can be found in the federal Form 1040 instructions and IRS Publication 525, Taxable and Nontaxable Income, which are available on the .