DALLAS (WBAP/KLIF) – Texas malls and retail stores will be busy over the next few days as the State of Texas recognizes Tax Free Weekend.
According to the National Retail Federation, total combined spending is expected to reach $83.6 billion, 10 percent more than last year.
More than half of that is expected to be spent in department stores. Holly Quartaro with Galleria Dallas says people from outside of the state will flock to Texas to shop.
“We get drive in traffic from Louisiana and Oklahoma,” said Quartaro. “So if they want save some extra tax this weekend, we’re hoping to see them in North Texas.”
The State Comptroller’s Office says shoppers will save an estimated $87 million during the sales tax holiday. According to the NRF, families with children in elementary through high school plan to spend an average $687.72 each, for a total of $29.5 billion, an 8 percent increase from last year’s $27.3 billion. Total spending is the second-highest in the history of the survey following a peak of $30.3 billion in 2012.
Sales Tax Holiday is August 11-13. As in previous years, the law exempts most clothing, footwear, school supplies and backpacks priced less than $100 from sales and use taxes, which could save shoppers about $8 on every $100 they spend. The event started in 1999, and has been a fixture ever since.
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