The state of New Jersey is introducing the Stay NJ property tax benefit, offering significant financial relief to senior citizens and individuals receiving Social Security Disability payments. This new initiative reduces property tax bills by up to 50%, with a maximum benefit of $6,500. Alongside this, a combined application process now includes ANCHOR, Senior Freeze, and Stay NJ programs, simplifying access for eligible homeowners. However, the rollout depends on the state budget being approved by July 1. Payments are expected to begin in July, with Stay NJ benefits arriving in early 2026. An online calculator has been developed to help estimate individual benefits, while eligibility criteria vary across programs, creating potential confusion among applicants.
Understanding the New Property Tax Benefit Programs
New Jersey’s latest property tax relief efforts bring together three distinct programs—ANCHOR, Senior Freeze, and Stay NJ—under one streamlined application process. These programs differ significantly in terms of eligibility requirements, payout schedules, and benefit amounts. While ANCHOR and Senior Freeze have long been available to qualifying homeowners, the addition of Stay NJ introduces a new layer of support for those who may not fully qualify under previous programs but still face high property tax burdens. The system aims to provide broader coverage, particularly for seniors and disabled individuals, though understanding how each benefit applies can be complex.
The ANCHOR program offers direct payments of up to $1,750 for seniors earning $150,000 or less annually, with reduced benefits for those earning between $150,001 and $250,000. Senior Freeze refunds increase based on how long an individual has participated and how much their taxes have risen over time, requiring income thresholds below $168,268 in 2024. Meanwhile, Stay NJ acts as a supplemental benefit, stepping in when the combined amount from ANCHOR and Senior Freeze falls short of 50% of a homeowner’s total tax bill, up to $6,500. Those earning $500,000 or more are excluded entirely from Stay NJ, though discussions in Trenton suggest possible adjustments to income caps within the upcoming state budget.
Application Process, Payment Timelines, and Estimating Benefits
Homeowners in New Jersey now have access to a unified application system for all major property tax relief programs, making it easier to apply for multiple benefits at once. Applications are available online, with a submission deadline of October 31. However, different parts of the relief package will arrive at different times—with most payments beginning in July and the Stay NJ portion not expected until early 2026. To help residents better understand what they might receive, a digital benefit calculator has been developed. This tool allows users to input personal financial data and receive estimated figures for ANCHOR, Senior Freeze, and Stay NJ without storing any information entered.
The payment rollout timeline reflects administrative complexities tied to the state budget approval process, which must occur by July 1. Once funded, the Treasury Department plans to distribute benefits on a rolling basis starting in July, though the Stay NJ component will take longer due to additional processing and planning requirements. By late 2025, recipients will receive detailed letters explaining how their benefits were calculated. The calculator, built by students from Stevens Institute of Technology, ensures privacy and gives applicants greater clarity about potential savings. With these tools and timelines in place, eligible homeowners can begin preparing their applications and managing expectations regarding when and how much financial assistance they will receive.
Investors have continued to pour capital into U.S. money market funds, pushing total assets under management to an unprecedented $7.4 trillion. Despite expectations that falling interest rates would reduce the appeal of these instruments, inflows remain robust, with over $320 billion added this year alone. The resilience of money market funds highlights their enduring attractiveness even as the Federal Reserve transitions from a tightening to a loosening monetary policy stance. Industry experts anticipate further growth, noting that yields—while potentially moderating—remain favorable for investors seeking stability and competitive returns.
The sustained demand for money market vehicles reflects broader economic dynamics, including the Fed's recent rate-cut forecasts and lingering uncertainties around inflation and global events. With average seven-day yields hovering above 4% for prime funds, many investors see these products as a reliable alternative to traditional savings mechanisms. Deborah Cunningham of Federated Hermes emphasized that while peak yield levels may not persist indefinitely, returns in the mid- to high-three percent range still offer substantial value. This sentiment has been echoed at major industry gatherings such as the Crane’s Money Fund Symposium, where participants discussed strategies for maintaining performance amid shifting conditions.
One key trend shaping the sector is the growing participation of retail investors, who account for approximately 60% of the $2.5 trillion surge in fund assets since March 2022. Unlike institutional investors, households have demonstrated a consistent appetite for money market exposure, driven by the combination of safety and relatively high yields. Meanwhile, fund managers have adapted to evolving circumstances by adjusting portfolio durations and diversifying holdings. Some have increased allocations to repurchase agreements in response to debt ceiling concerns, positioning themselves to capitalize on potential future bill issuance once those issues are resolved.
Despite speculation about a possible shift toward ultra-short or equity-based alternatives, money market funds have defied predictions of declining popularity. Michael Bird of Allspring Global Investments noted that even with anticipated rate reductions, current yield levels remain attractive compared to historical averages. The interplay between macroeconomic uncertainty and investor behavior continues to support strong asset growth, reinforcing the role of money market funds as a cornerstone of modern investment strategy. As central bank policies evolve and geopolitical risks linger, these instruments appear poised to maintain their relevance in the portfolios of both individual and institutional investors alike.
Douglas Lyman’s life path is anything but conventional. From the disciplined ranks of the U.S. Marine Corps to the contemplative halls of a Benedictine monastery, and finally into the world of values-driven finance, his journey has been marked by transformation and insight. Each phase instilled in him unique lessons—resilience from the military, introspection from monastic life, and a deep understanding of human behavior around money. These experiences now fuel his mission to help others navigate their financial lives with clarity and purpose.
The transition between such vastly different worlds wasn’t easy, but it was formative. Leaving behind a privileged yet emotionally turbulent childhood, Lyman sought meaning through service and spirituality. His time in the Marines taught him accountability and leadership, while his two decades as a monk offered a profound perspective on community, humility, and the psychological roots of financial stress. When his monastic community faced financial collapse, he found himself at a crossroads—this crisis became the catalyst for his next chapter, guiding him into wealth management with a mission to heal people’s relationship with money.
Lyman’s latest work explores what he calls “money monsters”—unconscious patterns shaped by early life experiences that influence our financial decisions. He believes that understanding these internal dynamics is key to achieving not only financial wellness but spiritual growth. By integrating ancient wisdom with modern financial practices, he offers a roadmap for aligning personal values with monetary choices, especially for those who have served and carry deep emotional imprints from their past.
In a world where money often divides and wounds, Lyman’s message brings hope. He reminds us that finance isn't just about numbers—it's about stories, healing, and the courage to face our inner struggles. Through his journey, he shows that true wealth lies not in assets, but in integrity, compassion, and the willingness to grow beyond our fears.