I own my home with my sister. Can we both get ANCHOR tax breaks?
Q. My sister and I own my home 50/50 but only I live in it and pay the property taxes. She lives a town away with her husband and son. Is she eligible for 50% of the ANCHOR payment or because she doesn’t live here, are we only eligible for my 50%?
— Homeowner
A. The new ANCHOR property tax benefit has homeowners and renters asking a lot of questions.
If you’re a homeowner and your 2019 gross income was up to $150,000, you will get $1,500. If you had gross income between $150,000 and $250,000, you will get up to $1,000. Renters are included, too. Those with 2019 gross income of $150,000 or less will receive $450.
Eligibility is based on how taxpayers file their income tax return, the state Treasury Department said.
“If a couple is unmarried and file individually, their ANCHOR eligibility will be based on their individual incomes, so each could earn up to $250,000 and receive a rebate,” it said.
But what happens when only one owner lives in the home?
“The homeowner who lives in the home as their primary residence would receive the full ANCHOR payment,” said a Treasury Department spokeswoman.