New Jersey's ANCHOR property tax relief program will begin next week. Letters will be mailed to 1.5 million residents to confirm if they are eligible for this season's benefit.

If you're a homeowner or renter, you could be eligible for hundreds of dollars in this year's ANCHOR season. Last year payments ranged from $450 to $1,500 with some applicants over 65 receiving $250.

ANCHOR, which stands for Affordable New Jersey Communities for Homeowners and Renters, is now in its third year. According to the state treasurer, the benefits are inclusive of New Jerseyans at all stages of life, from young people renting their first apartment to retirees living in the place they've called home for decades.

So how do you get it? The Treasury Division of Taxation will automatically file applications for about 1.5 million taxpayers and will mail them starting on Monday, Aug. 19. The division also has an application on its website which they say is now easier to use. They say their goal is to reach eligible homeowners and renters who have not previously applied.

All payments will be issued on a rolling basis beginning in November. The deadline to file an application is Nov. 30.

If your information has changed since your last ANCHOR payment, you'll need to file a new application by Sept. 15.

For more information, click here or call the ANCHOR hotline at 609-826-4282 or 1-888-238-1233.