I saw on the news a couple of days ago that some states are canceling their "Tax Free Weekend" next month because they can't afford to do it.
Texas WILL still have a "Tax Free Weekend".
What does this mean? This means that many of the items you would buy for "back to school" for your kids or yourself would not be taxed. Items such as jeans, shirts, socks, tennis shoes, and sandals are all exempt from tax.
There are several items that are not exempt, like specialty items, such as cleats (soccer shoes), baseball pants, and most any sports related clothing.
Also, the items must cost less than $100. The $150 pair of designer jeans will not be exempt from taxes. Neither will those $200 designer tennis shoes, or $500 leather coat.
School supplies are also tax exempt like paper, folders, pens, and backpacks.
Here's the thing... the tax rate across Texas is 6.25-8.25%. That means, when you spend $100, you'll save anywhere from $6.25-8.25. That's not very much, right? However, the majority of stores have sales on top of sales. With that, if a store is having a 40% off sale, that's like saving 48.25% instead!!
That's how you get the savings to add up. Shop where the sales are to get even more of a discount, and you'll spend wisely on this Tax Free Weekend.
When is it? It's August 21-23, 2009.
Here's a list of more exempt and nonexempt items from the state's website.
**Are You Packed Yet?**
Austin, TX real estate and the surrounding areas of Lakeway, Bee Cave, Westlake Hills, Cedar Park, Round Rock, Spicewood, Circle-C, Steiner Ranch, and everywhere in between... Whether you're buying or selling, I'll be with you through the entire process.