How to prepare for sales tax-free weekend amid high inflation
TYLER, Texas (KLTV) - This weekend kicks off the annual Sales Tax-Free weekend in Texas. Sales Tax-Free Weekend starts on Friday, Aug. 5th and runs through Sunday, Aug. 7.
Dating back to the ‘90′s, the holiday was created to benefit consumers at a period where costs for back-to-school became expensive. In the south, mainly in Texas, tax-free weekend gained popularity from consumers as it saved families money on school supplies.
“It really was designed to help consumers at a time of the year that is very expensive for them,” UT Tyler Professor of Marketing Dr. Barbara Wooldridge said.
Items under $100 qualify for sales tax-free weekend however there is a specific list of items that qualify including:
- School Supplies
- Face Masks
Wooldridge explains that during the tax-free weekend, most family may see a big increase in back-to-school expenses. Inflation has also played an integral role in what families spend money on, leaving families to make some tough decisions.
“Can we buy down meaning instead of buying the brand named item,” Wooldridge said. “They also look and say ‘Do we buy the school supplies and not other things?’”
Families with larger family sizes with younger children see a bigger spending increase since children may need more school supplies than older children and they tend to grow out of their clothing quicker.
“Obviously, more children just cost more because of numbers. What you spend on varies on what level of school they’re in,” Wooldridge said.
Before heading to the stores for tax-free weekend, make a list of items that need to be purchased, plan out what is needed and not needed for the school year.
“So if people know what they need, make a list have a good idea of what it costs, and go in and shop that, then it’s a great weekend for them,” Wooldridge said.
For a more detailed list of items, visit the Texas Comptroller’s website.
Copyright 2022 KLTV. All rights reserved.