In The Classroom
Back to school tax-free shopping this weekend
AUSTIN, TX (KTRK) -- The start of the new school year is right around the corner. If you've put off getting those much-needed school supplies, that could be a good thing because this weekend is the annual Sales Tax Holiday, which means Texas families can save some money on the things their students will need for the new year.Texas' tax free weekend begins this Friday. Taxes will be waived on most clothing, shoes, school supplies and backpacks under $100.
The weekend is one of the busiest of the shopping calendar. This is the 14th year of the tax-free weekend and the state estimates consumers have saved hundreds of millions of dollars since the program's inception. Last year alone, shoppers saved $64 million over the weekend, according to the state.
The holiday means all shoppers will save 8.25 percent on most back-to-school purchases. It may not sound like much, but once you add up all the sales going on this weekend in conjunction with the event, consumers can get some great deals.
Local leaders say lower income families are going to benefit the most.
"At 8.25 percent, Texas has one of the highest combined sales tax rates in the country. High sales taxes hit low income, middle class, elderly and working class Texans the hardest, forcing our student's poorest citizens to pay up to six times more of their income in sales tax revenues than the more affluent Texans," said State Senator Rodney Ellis.
The tax-free holiday begins Friday, August 17 and ends Sunday, August 19.
For a full list of what's included in tax-free shopping and what's not, visit the Texas comptroller's website here: http://www.window.state.tx.us/taxinfo/taxpubs/taxholiday/d/
in the classroom, jeff ehling
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