Make the Most of Your Tax-free Holiday

If you’ve got a mile-long back-to-school shopping list, we’ve got good news. You can save a bundle during Texas’ annual tax-free holiday, Friday, Aug. 9, through midnight Sunday, Aug. 11.

For those not in the know, a tax-free holiday is a period of time during which Texas removes the sales tax on eligible items. Lago Mar residents can easily take advantage of the offered savings as the Tanger Outlets are located right outside our front door.

Here are a few tips for making the most of your tax-free holiday.

• Be sure you know what items are eligible. During this year’s holiday, most clothing, footwear, school supplies and backpacks priced under $100 qualify for tax-free purchase. You can find a list of eligible clothing, footwear and other items here. For a list of eligible school supplies, check here.
• Be aware that some items, like specialized athletic gear or protective equipment, don’t qualify for the exemption.
• There is no limit on the number of qualifying items you can buy tax-free, as long as each item is priced under $100, so stock up.
• You can take advantage of the tax-free holiday for both in-store and online purchases from sellers doing business in Texas. Not sure about timing for online orders? Even if an item is back ordered or delivered after the tax holiday, it still qualifies if you pay for it during the tax-free period. That means when your credit card is actually charged which can happen after the holiday has ended, so keep that in mind.
• Make a list of needed items, especially for back-to-school shopping, to maximize your savings. Don’t get caught up in the excitement of “deals” and end up buying more than you need or budgeted for. Even if you save on taxes, spending an extra $50 or $100 can quickly negate those savings.
• Many retailers offer extra discounts during this period, so look for sales to stack on top of the tax savings.
• While there’s a $100 per-item limit, you can still save on multiple qualifying items. For example, two $80 shirts would both be tax-free, even though the total is over $100.

Now that you know, it’s time to go! Once you’ve finished shopping for back-to-school items, why not shop for a new home in Lago Mar. That way you will be well situated to take advantage of next year’s tax-free holiday.