Ready, Set, Shop... Tax Free
MIAMI (CBS4) – Back to school shopping hits high gear Friday as thrifty shoppers looking for a bargain take advantage of the back-to-school sales tax holiday.
The three-day sales tax holiday got underway at 12:01 a.m., Friday August 12th and continues until midnight Sunday, August 14th.
The sales tax holiday includes clothes and shoes up to $75 and school supplies valued at $15 or less.
You can get the tax break on as many items as you want, as long as each item falls below the spending limit.
Click here for a Guide To The Back To School Tax Holiday
The popular sales tax holiday at back-to-school time saves 7 cents on every dollar spent.
With list in hand parents hit the isles at Walmart in Hialeah.
"It's a very long list. We need folders, glue, crayons… lots and lots of stuff," Felicia Barters said.
Statistics show families with children in grades K through 12 will spend an average of about $600.
Keisha client said last year she cut that in half shopping for her two daughters.
"With uniforms and supplies I spent about 300 for both of them," she said.
And she, like other parents, are hoping to stay within budget by taking advantage of the sales tax holiday.
Some come from other states to take advantage of the annual discount.
"We're from out of town, looking for good deals, for things that we don't see back at home," said Baltimore resident Charles Henderson. "That way the kids can go back with a different style."
In past years, the Florida Legislature has held 7- to 10-day sales tax holidays, but tight state budgets eliminated the tax break altogether in 2008 and 2009. A weekend tax holiday was revived in 2010.
While it's a sales tax cut for the careful shopper, retailers say it's actually a big tax collection increase for the state.
The three-day holiday will cost the state $34.7 million in lost revenue while local governments would lose about $7.5 million. However, retailers say the revenue lost by school-related purchases is offset by increased sales of taxable merchandise.
Many South Florida malls, including Dolphin Mall, The Falls, Miami International Mall and Dadeland in Miami-Dade, and Coral Square in Broward, are holding sidewalk sales or special events with entertainment, fashion shows and giveaways to get shoppers in their doors this weekend.
"Its been hectic last weekend it felt like it was black Friday all over again," said store manager Desiree Blandon. "My store was a hot mess, I didn't know where to pick up."
